USD Expected To Trade Lower This Week – Analysts

U.S. data this week—including durable goods orders and consumer confidence—will continue to reflect the impact of extreme weather, presenting a downside risk for the U.S. dollar, according to CNBC’s latest survey of currency strategists and traders.

“‘Team Econ’ has been doing a very poor job of forecasting the U.S. data right,” said Robert Rennie, Global Head of FX Strategy at Westpac Bank, who has a “bearish” view on the dollar this trading week. “So more pain to come.”

Though there may be a headline impact on the dollar from sub-par data, the recent spate of softer economic numbers—tainted by the adverse weather—isn’t likely to dissuade the Federal Reserve from altering the pace of its monthly asset purchases.


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Mingze Wu

Mingze Wu

Currency Analyst at Market Pulse
Based in Singapore, Mingze Wu focuses on trading strategies and technical and fundamental analysis of major currency pairs. He has extensive trading experience across different asset classes and is well-versed in global market fundamentals. In addition to contributing articles to MarketPulseFX, Mingze centers on forex and macro-economic trends impacting the Asia Pacific region.
Mingze Wu