The week starts with the US Dollar Index (DXY) bouncing from a marginal new low at 101.80. Economists at ING expect Dollar to remain gently offered.
Trading conditions should remain quite illiquid
“Today marks a partial US market holiday to respect Martin Luther King day and could mean that trading conditions, which seemed quite illiquid last week, remain so.”
“The US data calendar is relatively light this week but Retail Sales, Industrial Production and Existing Home Sales should all fall on the soft side. In theory, then, this should not impact too much the market expectations of two 25 bps Federal Reserve hikes in February and March, both of which are expected to be reversed by year-end.”
“The factors that have pressured DXY below 102 remain in place, but DXY may find support in the 101.30/
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