The Dollar has remained under pressure at the beginning of this week. However, economists ING They continue to favor a short-term USD recovery.
End-of-month flows could interfere and delay the recovery of the Dollar
The Dollar is expected to remain very sensitive to US data, including today’s Conference Board Consumer Confidence Index, which is expected to have fallen slightly.
As for the Fed, several speakers will have to be followed closely: Austan Goolsbee, Christopher Waller, Michelle Bowman and Michael Barr. The recent drop in rates significantly increases the chances that rate cut speculation will be rejected, which may help the Dollar rebound.
End-of-month flows may enter the mix and delay a dollar recovery, but we remain of the opinion that it is too early to chase the USD downtrend. There is still some resistance in the US data at the end of the year that may support the Dollar.
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.
