Dollar crosses to keep stabilising until Friday’s US PCE – ING
|FX markets are still struggling to find direction. Economists at ING analyze Dollar’s outlook.
Keep an eye on a speech by the Fed’s Christopher Waller
Today, monthly wholesale sales and inventory revisions are the only data releases on the calendar along with the weekly MBA mortgage applications. It will be more interesting to hear what the Federal Reserve's Chris Waller has to say on the economic outlook. Waller is generally considered a hawk, so it will be interesting to see how he reacts to the latest data releases.
When it comes to Fed pricing, we doubt expectations for the June meeting will change much this week unless we see a surprise in Friday’s PCE. There is still 19 bps priced in for June and 78 bps by year-end, which pretty much mirrors the March median dot plot.
Some quarter-end flows may slightly mix up the FX picture today, but the Dollar appears in stabilisation mode.
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.