As the world’s top investment manager and financial market journalist, I bring you the latest updates on stocks, bonds, and crude oil trading positively. The US Dollar is holding steady against major currencies, creating a pro-risk environment that is boosting high beta FX like the ZAR and MXN, according to Scotiabank’s Chief FX Strategist Shaun Osborne.
Focus shifts to next week’s risk events, with the USD gaining support from positive GDP revisions and labor market indicators. The upcoming Fed Beige Book release and NFP data will provide further insights into the economy. Core PCE data is expected to show moderate price increases, potentially impacting Fed rate cut expectations.
While the USD is on track for a weekly gain, it may not be enough to reverse recent losses. Short-term signals suggest some weakness in the USD, especially with the CNY showing strength and potentially limiting further USD gains.
In conclusion, keep an eye on upcoming economic data and Fed announcements as they could impact market trends and investment decisions. Stay informed and be prepared for potential market shifts in the coming weeks.