Weekly Market Outlook: May 20-24
What currencies to consider this week…
US dollar: forecast for June 26-30
The upcoming economic releases should bring some life into the USD. Don’t miss core durable goods orders on Monday, CB consumer confidence on Tuesday, crude oil inventories on Wednesday, final Q1 GDP on Thursday and Core PCE price index on Friday. The latter is the Federal Reserve’s preferred inflation gauge, so this release will have an impact on the expectations for the central bank’s policy. In June, the regulator increased the federal funds rate by 25 bps and left the door open for further increases. For now, more 2017 rate hikes of the Fed are not really priced in the dollar’s exchange rate.
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