USD: Recovery signals upside potential – ING
|The Dollar has shown signs of recovery as precious metals decline, with expectations for positive data this week. ING analysts anticipate a decent payroll report, which could support further Dollar strength. The focus remains on how the Dollar will respond to upcoming economic data and short-term rate dynamics, notes Francesco Pesole from ING.
Dollar shows signs of strength
"With the dollar now having recovered to some degree, we think it will move more in line with data and short-term rates dynamics this week."
"Our call is for 80k payrolls and unchanged 4.4% unemployment, which can set the stage for a further stabilisation/recovery in the dollar."
"Before then, we’ll be observing closely how much interest there is in buying the dips in EUR/USD."
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