This
is via the folks at eFX.
For
bank trade ideas, check
out eFX Plus.
For a limited time, get a 7 day free trial, basic for $79 per month
and premium at $109 per month. Get
it here.
- Goldman Sachs sees the USD staying offered in the near-term before rebounding later in the year.
- “Taking a step back, in late 2022, we and consensus generally expected Dollar strength to persist somewhat longer given expectations of sluggish global growth and elevated policy risks, before eventually clearing the way for more sustained Dollar downside. We now see a rising case that this is instead playing out in reverse,” GS notes.
- “And we still see the balance of risks pointed towards potentially further tightening needed, rather than rate cuts later this year (consensus among economists generally goes the other way). At the same time, our commodity strategists expect that stronger global activity growth will eventually push prices higher again. We therefore still see some important limitations on current market trends, but no clear reversal catalysts over the near term,” GS adds.
This article was originally published by Forexlive.com. Read the original article here.