The dollar is struggling to find a clear direction in the current market environment. The ING economists believe the dollar may lack a clear direction until inflation data Of the next week.
The waiting game has begun
“We suspect that the major dollar crosses will remain range bound until the next key data is released. The CPI next week is the real event risk. And if the broader risk environment proves resilient for another session, the dollar should still find a bottom thanks to some defensive positioning ahead of next week’s inflation data, as it did in the run-up to the IA meeting. fed.”
“Fed communication remains important, but secondary to data. Additional policy comments from Christopher Waller and Patrick Harker today are not likely to be a game changer for the dollar.”
“He DXY could continue to hover around the 103 zone until the CPI report Of the next week”.
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.
