The market is long on the US Dollar (USD) after two months of a Trump-powered rally. Investors like the USD story into 2025, but the question is whether they have to suffer a position-led shake-out first. Today represents a risk to those positions in the form of the November jobs report, ING’s FX analyst Chris Turner notes.
Bounce in the euro has sent DXY back below 106
“The feeling is that weather and Boeing strikes knocked about 110k off last month's number (which saw nonfarm payrolls rise just +12k), which leads consensus to around 220k today. That suggests a number below 200k today will be read as weak, and it will probably take a number over 300k to seriously question whether the Federal Reserve will not cut rates on 18 December.”
“We think the Fed currently is minded to cut. Focus will also be on the unemployment rate, where a rise back to 4.2% slightly favours a Fed cut, while no change at 4.1% would support the dollar on the view that the central bank may well skip a cut in December after all.”
“The bounce in the euro yesterday has sent DXY back below 106. We have a strong preference that the dollar rallies into next year and suspect that DXY does not sustain a break below 105.60/70 even if NFP comes in on the soft side. Indeed, investors often use post-NFP liquidity to take strategic positions and we would have any weakness today present an opportunity to buy dollars.”
© 2000-2024. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.