USD has corrected weaker and could extend further over the very short-term, economists at MUFG Bank report. Scope for Dollar strength to remerge This
This USD weakness could extend further over the short-term but we remain sceptical about this being a sustained turnaround.Yields remain supportive for the Dollar and the ‘higher for longer”’ narrative will only be questioned once the US data turns weaker.Information on these pages contains forward-looking statements that involve risks and uncertainties.
If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.
FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.
The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.EUR/USD is in the red near 1.0550, having broken the Asian consolidation to the downside in the European session on Monday. The pair is weighed by a buoyant US Dollar amid higher US Treasury bond yields and a cautious mood. US ISM PMI and Powell's speech eyed.GBP/USD is trading below 1.
Gold price continues losing ground for the sixth straight day and drops to a near seven-month low. Bets for further policy tightening by the Fed turn out to be a key factor weighing on the “XAU/USD”.With the start of 2023’s fourth quarter, things are finally getting interesting in crypto. While the next 12 weeks are extremely important, let’s start by focusing on what to expect this week.The ISM will publish the United States September Manufacturing PMI today.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Gold/Silver Q4 Technical Forecast: Tide Remains Against XAU/USD & XAG/USDDevelopments on longer-term charts suggest that rally since late 2022 in gold and silver was corrective, and not the start of a new bull market. And now precious metals appear to be breaking lower. What is the outlook and the key levels to watch?
Read more »
Bitcoin & Ethereum Jump: BTC/USD & ETH/USD Price ActionThe break above minor resistance in Bitcoin and Ethereum has reduced some of the immediate downside risks. Can cryptocurrencies sustain gains? What is the outlook and what are the key levels to watch?
Read more »
USD/CNH risks extra weakness below 7.2800Markets Strategist Quek Ser Leang and Senior FX Strategist Peter Chia at UOB Group note that further downside looks likely once USD/CNH breaches the 7
Read more »
A short government shutdown wouldn’t crash the economy, but a long one holds risksWhile economists don’t expect big near-term shocks if federal agencies go dark, the risks grow the longer a stalemate lasts.
Read more »
USD/THB: Still scope for a move above 37.00In the opinion of Markets Strategist Quek Ser Leang UOB Group, USD/THB could still advance further and surpass the 37.00 hurdle in the near term. Key
Read more »
Euro vulnerable to further weakness in the near-termEconomists at MUFG Bank analyze EUR outlook after sharply weaker Eurozone inflation data released last week. Weaker inflation data will reinforce expe
Read more »