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USD: Tends To Weaken Around 1-2 Weeks Ahead Of The

The US dollar has had a good October so far, gaining ground against risk and safe currencies alike. It has never been a one-way street, but the dollar’s strength is quite dominant. However, the team at Credit Agricole sees  downside potential ahead of the November 8 vote:

Here is their view, courtesy of eFXnews:

The USD pullback suggests the rally may be running out of steam  in the absence of significant data support.

With November FOMC meeting and Presidential election approaching, we would not be surprised to see the dollar settling into the more neutral pattern in the coming days.

This is particularly the case since  historically the greenback tends to weaken around 1-2 weeks ahead of the Presidential vote.

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Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.