EURUSD Forecast
FUNDAMENTAL FORECAST FOR USD: BULLISH
US DOLLAR, FEDERAL RESERVE, FOMC, - TALKING POINTS:
The US Dollar’s tentative recovery may continue into the upcoming week
Federal Reserve’s dovish outlook fueled the recent appreciation in the greenback
Will the recent $74 billion contraction of the central bank’s balance sheet fuel further dollar strength?
The US dollar is bouncing broadly higher in early trading today as the markets have shifted to a risk-off stance with the S&P 500 set to open nearly 1% lower while gold prices have broken to fresh seven and a half year highs.
Survey data from purchase managers in both the US and Europe showed their respective economies recovering for a second consecutive month. Yesterday’s report from IHS Markit showed the US services PMI rising to 46.7 while the manufacturing PMI printed at 49.6.
Based on the PMI data, analysts at Markit expect the US economy to contract 8% in 2020 which is a smaller contraction than previously anticipated.
US DOLLAR, FEDERAL RESERVE, FOMC, - TALKING POINTS:
The US Dollar’s tentative recovery may continue into the upcoming week
Federal Reserve’s dovish outlook fueled the recent appreciation in the greenback
Will the recent $74 billion contraction of the central bank’s balance sheet fuel further dollar strength?
The US dollar is bouncing broadly higher in early trading today as the markets have shifted to a risk-off stance with the S&P 500 set to open nearly 1% lower while gold prices have broken to fresh seven and a half year highs.
Survey data from purchase managers in both the US and Europe showed their respective economies recovering for a second consecutive month. Yesterday’s report from IHS Markit showed the US services PMI rising to 46.7 while the manufacturing PMI printed at 49.6.
Based on the PMI data, analysts at Markit expect the US economy to contract 8% in 2020 which is a smaller contraction than previously anticipated.
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