A quiet week could be weak for the dollar – SocGen

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The US dollar struggles to recover. Kit Juckes, chief currency strategist at Société Générale, expects the dollar to remain under downward pressure.

A spoonful of optimism helps the dollar lower

“Somewhere, a rabbit pokes its head out of a burrow and is greeted by a pale sun that fails to thaw the frozen grass. Meanwhile, as the Chinese celebrate the new year, Economists turn less bearish on growth and investors bullish on non-dollar assets.”

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Slight upward revisions to growth forecasts consensus in the US, the Eurozone, the UK and even Japan, they do not imply changes in the relative growth of the GDP, but they lift the spirit (despite the chill in the air).”

“Today there is so little news that optimism can survive: Eurozone Consumer Confidence and US Leading Indicators deserve attention (in case there are surprises), but they don’t tend to move markets.”

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Source: Fx Street

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