FX Daily: US Dollar approaching support levels

FX Daily: US Dollar approaching support levels

From think.ing.com

FX markets are becalmed by holiday trading conditions in the US and a very light data calendar. A further unwinding of long dollar positioning remains the risk, but we think the dollar is getting close to some decent support levels. Elsewhere, 75bp rate hikes are still going through in the likes of Sweden and South Africa. USD: Focus on 'Cyber Five' retail sales Today sees another holiday-shortened US session following the Thanksgiving public holiday. Innovative US retailers have come up with the 'Cyber Five' sales promotion campaign which stretches from Thursday's Thanksgiving all the way through to Monday. Expect ... (full story)

USD days are numbered.

- Older Stories
French Shipping Giant Delivers Gloomy Outlook After Hefty Profit
From bnnbloomberg.ca|Nov 25, 2022
French shipping giant CMA CGM SA, owned by the billionaire Rodolphe Saade and family, said weakening demand for freight transport and gloomier economic prospects are hurting ...
Macro & Markets: Too early to celebrate
From corporate.nordea.com|Nov 25, 2022
Long term yields and the USD have taken another beating. China is far from reopening but markets have found some comfort that the Fed will slow down its rate hike pace. We believe ...
FCC bans U.S. sales of Huawei and ZTE equipment over national security concerns
From axios.com|Nov 25, 2022
The Federal Communications Commission on Friday announced it adopted new rules banning U.S. sales and imports of new Huawei and ZTE telecommunications devices out of national ...

- Newer Stories
Week Ahead Economic Preview: Manufacturing PMIs, US Q3 GDP, jobs report, eurozone CPI
From cdn.ihsmarkit.com|Nov 26, 2022
Worldwide manufacturing PMIs will be eagerly anticipated in the coming week after flash PMIs alluded to further recession risks in the major developed economies. Key releases in ...
China’s central bank cuts RRR to support economy
From think.ing.com|Nov 26, 2022
The People's Bank of China cut the required reserve ratio by 0.25 percentage points to support economic growth, as the economy continues to be dragged down by the rising number of ...
Euro Zone’s Double-Digit Inflation Is Reckoned to Have Lingered
From bnnbloomberg.ca|Nov 26, 2022
The euro zone probably endured a second month of double-digit inflation in November, according to analyst forecasts before crucial data awaited by European Central Bank officials. ...

Related Stories