Today’s Notable Sentiment Shifts
USD – The dollar was little changed on Wednesday as oil prices slowed after a big two-day advance, US Treasury yields move higher, and investors awaited clues on the tapering of economic support by the Federal Reserve at this week’s Jackson Hole symposium.
Commenting on their outlook and approach to trading USD, Lombard Odier Group noted that “there’s been skittishness over growth and sector rotations, which has boosted the dollar because of its safe-haven status.
In the short term, we’re still going to be trading in ranges, with upside bias. Dollar underperformance after Jackson Hole could be a buying opportunity ahead of the release of US data next week, including the non-farm payrolls report for August… Potential positive surprises from the NFP in particular could out QE (quantitative easing) taper back among the main FX market drivers and support the USD.”
Commenting on their outlook and approach to trading USD, Lombard Odier Group noted that “there’s been skittishness over growth and sector rotations, which has boosted the dollar because of its safe-haven status.
In the short term, we’re still going to be trading in ranges, with upside bias. Dollar underperformance after Jackson Hole could be a buying opportunity ahead of the release of US data next week, including the non-farm payrolls report for August… Potential positive surprises from the NFP in particular could out QE (quantitative easing) taper back among the main FX market drivers and support the USD.”
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