The US dollar (USD) has fallen at the beginning of this week. ING economists analyze the outlook for the dollar.
The Fed has no speech scheduled for today
There will be a couple of data releases in the United States today, following the strong Chicago Fed activity index, weak manufacturing figures (Dallas Fed index) and lower-than-expected new home sales on Monday. . February durable goods orders are expected to rebound after declining in January, and the Conference Board consumer confidence will stabilize after recording 106.7 in February.
No Fed intervention is planned today, but equity markets appeared to react negatively to comments on Monday from Raphael Bostic, who reiterated his forecast for a single cut this year and highlighted the risks of easing too early. Interestingly, the Dollar did not benefit from his comments, and we suspect that while an underlying PCE of 0.3% MoM (our forecast and consensus) on Friday should not encourage dovish betting much, The Dollar seems more likely to stabilize rather than stage another rally at this time.
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.
