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Last week, the DXY saw a historic 350bps drop, the biggest since 2022. This marks the third-largest decline since the GFC, but with the US economy still resilient, it feels like an overreaction. Expect EUR to weaken slightly and CAD should give some short-term momentum. https://t.co/IA9dKzLgVk
La divisa estadounidense registró una de sus semanas más débiles desde noviembre de 2022. Estas son la razones. 💵 (@realDonaldTrump) Detalles. ⬇️ https://t.co/aVli5KAPEX
DXY fell every day last week for the first time since last March but not seasonal quirk. US rate premium collapsed amid US growth worries and European coming fiscal response to US volte face. Week ahead, China and US CPI/PPI, Bank of Canada rate cut. https://t.co/OEhezqE8t2 https://t.co/9RT9XH9987
The U.S. Dollar Index (DXY) experienced its largest weekly decline since November 2022, suffering a historic drop of 350 basis points. This marks the third-largest decline since the global financial crisis. The DXY fell every day last week, attributed to concerns over U.S. economic growth and a collapsing rate premium amid a potential European fiscal response. Analysts suggest that the market's reaction may be an overreaction, given the ongoing resilience of the U.S. economy. Upcoming economic indicators, including the Consumer Price Index (CPI) and Producer Price Index (PPI) from both China and the U.S., as well as a potential rate cut from the Bank of Canada, are anticipated to influence the dollar's performance in the week ahead.
