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The ongoing erosion of US real yields, thanks to rising inflation expectations and stagnant US Treasuries, has proved to be a negative influence on US Dollar.
Weekly Fundamental US Dollar Forecast: Rise in US Treasury Yields May Not Help Greenback; April NFP Due Advertisement Fundamental Forecast for the US Dollar: Neutral The drop in the US Dollar has occurred even as US Treasury yields have stabilized (if not turned higher), suggesting that rising inflation expectations – not real US yields – are behind the move, which has historically been bad for the greenback. The main economic event of the week will be the April US non-farm payrolls report due out on Friday, May 7. According to the IG Client Sentiment Index, the US Dollar has a mixed bias...
US Dollar Forecast: Back to the Year-Long Downtrend - Levels for DXY Index, USD/JPY Advertisement US Dollar Outlook: The US Dollar (via the DXY Index) continues to contend with its pandemic trendline, a magnet for price action throughout February. The January US durable goods orders report on Thursday and the January US inflation rate (PCE) report on Friday are the top data releases in the coming days, while Fed Chair Powell’s testimony on Capitol Hill will bring the usual fireworks. US Dollar Looking for Direction The US Dollar (via the DXY Index) continues to contend w...
Weekly Fundamental US Dollar Forecast: Mr. Powell Goes to Washington Advertisement Fundamental Forecast for the US Dollar: Neutral The main event of the week will be Fed Chair Jerome Powell heading to Capitol Hill for two days of testimony to deliver the semi-annual Monetary Policy Report. But traders shouldn’t sleep on the US economic calendar. The upcoming January durable goods orders and PCE/Core PCE price indexes may further enflame inflation fears, sparking more gains by US yields. The IG Client Sentiment Indexsuggests the US Dollar has a mixed bias heading into the...