FIRM PCE DATA COULD GIVE THE USD A LIFT – SCOTIABANK

avatar
· 閱讀量 78



USD is mixed on the day but broader gains extend ahead of price data. Economists at Scotiabank discuss the Dollar outlook.

Month and quarter-end portfolio rebalancing flows could still drive USD selling

Spreads have moved a little in the USD’s favour at the short-end of the curve but the DXY looks relatively fairly valued (based on its correlation with weighted 2-year yield differentials), suggesting limited scope for gains, absent significant new impulses from rates.

Firm PCE data could give the USD a lift but month and quarter-end portfolio rebalancing flows should have driven – and could still drive – USD selling, given US equity market outperformance. 

Stocks are broadly firmer on the day and crude oil prices are a little stronger, implying a risk-friendly backdrop generally for investors. 

See – US Core PCE Bank Expectations: Fed preferred inflation measure to make little progress

 


風險提示:本文所述僅代表作者個人觀點,不代表 Followme 的官方立場。Followme 不對內容的準確性、完整性或可靠性作出任何保證,對於基於該內容所採取的任何行為,不承擔任何責任,除非另有書面明確說明。

喜歡的話,讚賞支持一下
回覆 0

暫無評論,立馬搶沙發

  • tradingContest