USD: buy pullbacks around 96.00/96.50 – Westpac

Discussion in 'Fundamental Analysis' started by FXStreet_Team, Mar 9, 2016.

  1. FXStreet_Team

    FXStreet_Team Well-Known Member Trader

    Oct 7, 2015
    Likes Received:
    In opinion of strategists at Westpac, the greenback remains a ‘buy’ on dips towards the 96.50/96.00 band.

    Key Quotes

    “The USD has gone largely unrewarded for a material shift in a wide swathe of data including core CPI/PCE, retail sales, IP and payrolls”.

    “The improved tenor of the data has arguably boosted risk appetite more so, at least so far, indirectly tarnishing the USD. Next week's FOMC should change that”.

    “The dot plot should reveal fewer hikes, perhaps three in 2016 and 2017 vs. four each year as of the last projections, but the statement should be more hawkish, the Fed likely to signal that upcoming meetings are "live". The Fed is likely to declare that the risks are "balanced" too, after eschewing from an assessment in Jan”.

    DXY a buy into 96.0-96.5 if seen”.
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