Key Takeaways: π± BofA lowers EURUSD year-end forecast to 1.12 from 1.15 π Federal Reserve expected to cut interest rates in December instead of June π Geopolitical tensions, oil prices, and high U.S. interest rates impact emerging markets π° BofA predicts USD/JPY to climb to 155 by end of 2024 and 147 by end of … Read more
Key Takeaways: π° Dollar hands back early gains after Israeli strikes against Iranian sites π Potential escalation in Iran-Israel conflict leading to volatile market conditions π Dollar likely to post a positive week due to strong U.S. economic data and inflation concerns πͺπΊ EUR/USD rose slightly after German producer prices fell less than expected π¬π§ … Read more
Key Takeaways: πΈ UBS sees downside risks to EUR/USD below 1.05 due to US economic resilience and geopolitical concerns π¦ US Fed rate cut may be delayed, leading to potential appreciation of US dollar π ECB may start rate-cutting cycle in June, creating US exceptionalism with more demand for US dollar as safe-haven asset βοΈ … Read more
Key Takeaways: π΅ Asian currencies weakened while dollar and yen rose on safe haven demand π Dollar index and yen near multi-month highs π₯ Israel retaliatory strikes against Iran causing geopolitical tensions π¦πΊ Australian dollar weakened as an indicator of risk sentiment π Fed officials warn of higher interest rates for longer period due to … Read more
Key Takeaways: πΉ USD rose after mixed U.S. data, indicating strong economic ground ποΈ Fed likely to delay first interest rate cut since 2020 π Finance chiefs’ warning on sharp decline in yen and won had brief impact on the dollar π U.S. manufacturing activity expanded, strengthening the economy π U.S. existing home sales fell … Read more
US Dollar Strengthens Slightly Following Fed Comments and Positive Data
Key Takeaways: π΅ The U.S. dollar’s reserve currency status is likely to continue π Lack of credible challengers, such as the Chinese Yuan, help the dollar’s dominance π Despite challenges from a multipolar world, the dollar is expected to maintain its status π USD remains a preferred currency with long-term support, despite expected cyclical periods … Read more
Key Takeaways: π΅ Dollar retreats from recent highs amid intervention fears π Dollar’s safe-haven appeal due to geopolitical tensions in the Middle East πΊπΈ U.S., Japan, and South Korea may coordinate intervention in foreign exchange markets π Gains in the euro may be temporary with ECB expected to cut interest rates π¬π§ GBP/USD climbs despite … Read more
Key Takeaways: π° Dollar has been rising due to strong U.S. economic data and inflation π Japanese yen has been weakening, prompting concerns from authorities π U.S., Japan, and South Korea agreed to consult closely on foreign exchange markets π΅ Markets are pricing in 44 basis points of cuts from the Fed this year π … Read more
Key Takeaways: π΅ Bearish positions on most Asian currencies have firmed, intensifying steadily from the start of the year. π Short bets on the Malaysian ringgit and Indonesian rupiah are at high levels. π Korean won is the most shorted currency, while Singapore dollar positions are at a six-month high. πͺ Strong U.S. economic data … Read more