Fed Preview: Dollar to stay bid as the message is one of patience – ING

Market news

31 January 2024

Fed Preview: Dollar to stay bid as the message is one of patience – ING

The US Dollar (USD) stays resilient against its rivals. Economists at ING analyze Greenback’s outlook ahead of the Federal Open Market Committee (FOMC) event.

Fed should be in no hurry to cut

Expectations of the first Federal Reserve rate cut in March continue to fade as US data comes in on the strong side. Our bias is that the message from today’s FOMC meeting is also one of patience and the Dollar can stay bid.

Expect DXY to trade towards the upper end of a 103.00-104.00 range.

EUR may be biased to the downside unless the Fed takes a more dovish stance – OCBC

Spain Current Account Balance dipped from previous €3.77B to €2.77B in November

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