Richard Franulovich, head of FX strategy at Westpac, suggests that despite a notable marking up of US recession and political risks, sustained USD downside (ex-JPY) remains elusive. Key Quotes “Short term DXY weakness likely limited to the base of the 3mth uptrend channel 98.0-98.50.” “A more sustained USD decline would require the Fed ditching their “mid-cycle adjustment” in favour of a more protracted easing cycle. Several Fed officials have said they are not even inclined to cut rates again, though to be fair their calculations will evolve with the incoming data and progress on US-China trade talks.” “A genuine turnaround in Eurozone growth fortunes would also usher in a bout of USD weakness but we are not holding our breath; there’s no end in sight for Brexit and trade uncertainty is likely to linger for many months.” “Impeachment is not a genuine risk for the USD – almost ½ the Senate Republican conference would need to join all 47 Democrat senators to deliver the 67 votes for a conviction; a tall order. Though, the USD will be marked lower if Trump’s re-election odds are battered.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next US Pres. Trump: EU for many years treated USA very badly on trade FX Street 3 years Richard Franulovich, head of FX strategy at Westpac, suggests that despite a notable marking up of US recession and political risks, sustained USD downside (ex-JPY) remains elusive. Key Quotes "Short term DXY weakness likely limited to the base of the 3mth uptrend channel 98.0-98.50." "A more sustained USD decline would require the Fed ditching their "mid-cycle adjustment" in favour of a more protracted easing cycle. Several Fed officials have said they are not even inclined to cut rates again, though to be fair their calculations will evolve with the incoming data and progress on US-China trade talks." "A genuine turnaround… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
