As we have all seen the past two weeks all the bad US data finally caught up and killed it versus other pairs. Against the GBP is almost 2.00 and the EUR over 1.33, every piece of inflation data release over the last two months has been suggesting that inflation was under control. The housing numbers have been some of the lowest ever or lowest in years, even with the lower fuel prices personal spending is not as strong as expected and factories are now starting to show a slowdown. Due to these and other issues the likelihood of a interest rate cut early next year has increased which has also allowed carry traders that were USD long start to close out their positions. This week we have NFP which could give a surprise and temporarily help out the USD.
Based on your research or just your opinion what do you think the outlook for the USD is over the next 3-6 months? Do you see anything happening that will change the negative USD sentiment change?
Based on your research or just your opinion what do you think the outlook for the USD is over the next 3-6 months? Do you see anything happening that will change the negative USD sentiment change?