Economists at CIBC Capital Markets continue to see an upward trend for the Dollar in the coming quarters.
We must take advantage of the falls in the Dollar
For now, attention remains focused on the data that will be published next week, especially the CPI for October.
Despite the surprisingly cautious tone taken by Fed Chair Powell last week, we are of the view that the stronger activity in the US is more likely to persist. This suggests that the declines in the USD and that CAD investors should trim hedges on USD inflows in the coming months.
Heading into the second half of next year, we expect USD valuation to peak as markets reassess the viability of the Fed’s QT program, while the long-awaited JPY recovery begins to take hold across the currency space. foreign exchange.
DXY – Q4 2023: 108.88 | first quarter of 2024: 109.19
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.
