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27 Oct 2022

USD Index could test 100DMA at 108.42 on soft US GDP data – ING

The dollar is having one of its deepest corrections of the year. Softer-than-expected US Q3 Gross Domestic Product (GDP) numbers later could see the dollar correct a little further, economists at ING report.

Focus on US GDP numbers

“Today we will receive third-quarter US GDP data. There are downside risks to the consensus figure of 2.4% QoQ annualised given softer residential investment and consumption. Such an outcome could feed the corrective forces currently at work for the dollar. That could possibly see the DXY correction extend all the way to the 100-day moving average at 108.42.”

“Some high US inflation data tomorrow and what should be a hawkish Fed next week should contain the depth and length of this dollar correction. And for those corporates with dollar needs over the next 3-6 months, this correction should be a good opportunity to secure dollars.”

See – US GDP Preview: Forecasts from eight major banks, strong rebound to break two quarters of negative growth

Oct 27, 2022

USD/JPY bounces off multi-week low, finds decent support ahead of 145.00 mark

The USD/JPY pair remains under some selling pressure for the third successive day and drops to a nearly three-week low on Thursday. Spot prices, howev
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Oct 27, 2022

Greece Producer Price Index (YoY) down to 29.4% in September from previous 39.5%

Greece Producer Price Index (YoY) down to 29.4% in September from previous 39.5%
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