EUR/USD weakness unlikely to stay as dollar bears to return: BofA

EUR/USD weakness unlikely to stay as dollar bears to return: BofA
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EUR/USD weakness unlikely to stay as dollar bears to return: BofA
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The US Dollar holds on to small gains after rather disappointing US PMI release. The US economy is no longer outperforming or outpacing the Eurozone. The US Dollar Index (DXY) heads back to the mid-106.00 region. The US Dollar Index (DXY), which tracks the performance of the US Dollar (USD) against six major currencies, is trading…
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Standard Chartered strategist Nicholas Chia now expects the Reserve Bank of Australia to raise the cash rate to 4.10% at the 17 March meeting, reversing a prior call for a hold. The bank still anticipates another hike in Q2, lifting its terminal rate forecast to 4.35%. Firm activity data and rising inflation expectations are seen…
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The GBP/USD price analysis points to a bullish scenario, as UK retail sales surprise markets with an upbeat number. The US dollar could not gain traction despite better Q3 GDP and sustained Core PCE figures. The markets now await UK PMI data in the next two hours, followed by US PMIs in the New York…