Firm US data prints should add to USD underpinning in the near term – Scotiabank
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The US Dollar is trading firmer following yesterday’s US CPI. Economists at Scotiabank expect the greenback to remain resilient amid positive US data.
“Higher terminal rate pricing – the implied peak in the Fed cycle vias swaps has extended to a little above 5.25% – is reason to think the USD can remain firm in the short run at least.”
“Retail Sales are expected to rise a solid 2.0% (ax-autos +0.9%). The Feb Empire survey’s Jan weakness is expected to moderate somewhat. Jan IP is forecast to post a 0.5% m/m rise. Business Inventories are called 0.3% higher MoM while the Feb NAHB housing market index is expected to improve modestly from Jan’s 35 reading. Firm US data prints should add to USD underpinning in the near term.”
See – US Retail Sales Preview: Forecasts from seven major banks, noticeable increase
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