Tuesday, September 8, 2015

USD: Extending consolidation, trading soft against peers - BBH

FXStreet (Delhi): Research Team at BBH, note that the US currency is trading on a softer note and extending its consolidation in today’s trade as markets are still in a puzzle about the outcome of the forthcoming FOMC meet.

Key Quotes

“Despite the strong underlying jobs data from the US last week, markets still seem unsure about the FOMC meeting next week.”

“In the absence of any fresh fundamental drivers this week, the dollar is giving up some of its recent gains in what we view as consolidative trade.”

“Interestingly, the firm euro zone GDP report has had little impact so far on the FX markets. Perhaps this is because the ECB has basically flagged weaker economic data down the road with its recent forecast revisions.”
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