US Dollar Index could make a run at 11000 at any time – ING, Pivot Orderbook analysis
…
This is a premium post.
[s2If !current_user_can(access_s2member_level4)]Please register for PREMIUM VERSION HERE and login below to read further [lwa][/s2If] [s2If current_user_can(access_s2member_level4)]
The US Dollar Index (DXY) remains close to its highs of the year above 109. Economists at ING expect the DXY to test the 110 level.
“It is fair to say the dollar remains very well bid across the board. Two key factors remain at work here. The first is the Fed. Here pricing in US money markets of the Fed policy curve continues to move higher and flatter. The second factor is the energy crisis, which wiped out traditional trade surpluses for the big energy importers in Europe and Asia.”
“For today we will see US ISM manufacturing and the initial jobless claims numbers. We doubt these can put too much of a dent in the dollar’s rally ahead of tomorrow’s US jobs report.”
“DXY to stay bid above 109.00 and could make a run at 110.00 at any time.”
[/s2If]
Join Our Telegram Group
