The US dollar (USD) crawls towards the end of the week and month. The intradic tendencies in the main currencies are mixed, but the dollar index (DXY) in itself continues to register a slight fall in general during the day, marking (so far) the fifth consecutive daily fall. The actions are positive, with the S&P 500 to a point of its maximum of February in the midst of optimism about commercial conversations, they report the main strategists of Scotiabank, Shaun Osborne and Eric Theoret.
The USD mixed quiet downward
“The Secretary of Commerce, Lutnick, said that a commercial ‘framework’ agreement between the US and China was signed two days ago and that other agreements would follow soon, but an arrangement with Europe could take longer. The USD is not impressed. The litany of winds against us for the USD – the possible intrusion of the White House in the Fed policy, the short -term risks leaning towards a greater relief of the fed Concerns on the impact of US fiscal policy, portfolio outflows due to all the above, USD bass technicians, negative seasonal trends of the USD and (more immediately) rumors on negative flows of the end of the USD – suggest a difficult summer ahead for the USD.
“The slight rebound in the USD in the midst of the increase in tensions in the Middle East perhaps gave investors the feeling that the fall of the USD was slowing down or even reversing. BBDXY’s risk reversals were strengthened, but since then they have reset to reflect a new demand for sale options on the purchase options of the dollar of the dollar.
“The underlying PCE data is expected to increase 0.1% in the month, but they are modestly strengthened to 2.6% in the year. Michigan’s final confidence data can include a slight revision to the rise in the expectations of inflation of consumers, which remain very high for the next 12 months. IntradÃa tendencies suggest a consolidation in the DXY (bassist at a break below the support in 97.00).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
