Home Forex Analysis And Forecasts USD: Keep Buying Dips Vs These 2 Currencies - Credit Agricole

USD: Keep Buying Dips Vs These 2 Currencies – Credit Agricole

The USD has been in demand on the back of yesterday’s stronger than expected core inflation data. This may be due to the notion that the latest data is making a case for rising domestically driven upside risks to inflation.

In terms of data, today’s main focus will be on the second revision to Q4 GDP and the Michigan consumer sentiment survey. However, we anticipate only a limited currency impact, especially ahead of next week’s payrolls data which may support the view of further improving growth prospects.

This is especially true as medium-term inflation expectations have remained well supported, regardless of a further appreciating USD.

Accordingly we are of the view that USD dips should be bought, in particular against the EUR and the JPY.

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