US DOLLAR FORECAST: USD TRADING LEVELS & CHARTS FOR NEXT WEEKThe DXY Index is on tempo to shut the week at its highest stage
US DOLLAR FORECAST: USD TRADING LEVELS & CHARTS FOR NEXT WEEK
- The DXY Index is on tempo to shut the week at its highest stage since October final yr with strong US financial knowledge underscoring power of the American economic system
- USD worth outlook stays upbeat forward of January FOMC minutes due for launch subsequent week
- FX volatility may rise into subsequent week if coronavirus fears flare up once more and immediate one other transfer safe-haven currencies, which has potential to proceed bolstering the US Greenback
The US Greenback has dominated the forex market for the reason that begin of 2020 with the DXY Index – a benchmark measuring USD efficiency in opposition to a basket of different major currency pairs – charging 2.7% increased.
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Download our Comprehensive 1Q-2020 USD Forecast
Dollar positive factors thus far this yr may be primarily attributed to current power of the US economic system outperforming relative to baseline expectations, which has been exacerbated by an inflow of risk-aversion as a consequence of considerations over the novel coronavirus outbreak.