fxs_header_sponsor_anchor

News

USD: Near-term pullback could continue - BNPP

Research Team at BNP Paribas remains quite constructive on the USD as we move into 2017, but, with US nominal and real yields well-off their December highs now and the market already long USD according to their metrics, they see some scope for a near-term pullback vs the core currencies, particularly if equity markets give back some ground. 

Key Quotes

 “The USD is losing ground, retracing some of its post-employment report gains vs the EUR and JPY. There was not obvious catalyst for the reversal, although the USD retreat did coincide with a weaker risk sentiment: a pullback in US yields, a 0.3% drop in the S&P 500 and a slide in front-month crude prices to new lows for the year.”

“Today, the US calendar will be quiet, with the NFIB small business sentiment survey and the JOLTS job openings reports the only releases of note. We expect the NFIB small business optimism index to continue to be buoyant, and we forecast a rise of 2.6 index points to 101.0.”

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.


RELATED CONTENT

Loading ...



Copyright © 2024 FOREXSTREET S.L., All rights reserved.