USD dips remain a buying opportunity against the core majors – Scotiabank

Market news

18 January 2024

USD dips remain a buying opportunity against the core majors – Scotiabank

The US Dollar (USD) trades directionless on Thursday in light trade. Shaun Osborne, Chief FX Strategist at Scotiabank, analyzes Greenback’s outlook.

USD strength in the next few weeks

I do not think the USD will fall too far at the moment and dips remain a buying opportunity against the core majors.

Higher US yields, seasonal trends and longer-term technical pointers are aligned in pointing to USD strength in the next few weeks at least.

See: USD Index to trade in a 103.00-104.00 range in the near term – ING

Philadelphia Fed Manufacturing Index improves in January

US: Initial Jobless Claims dropped below 200K last week

Market Focus

Material posted here is solely for information purposes and reliance on this may lead to losses. Past performances are not a reliable indicator of future results. Please read our full disclaimer

Open Demo Account & Personal Page

Personal area

support@teletradepartners.com

Risk Warning: Trading in the financial markets (including trading on margin) provides a wide range of opportunities and enables investors ready to take risks to make high profits, but it carries a potentially high level of risk of loss. Therefore, prior to trading you should take into careful consideration whether such operations are suitable for you in terms of your level of knowledge and financial situation.