- January 23, 2023
- Posted by: Stratford Team
- Category: Economy
Summary of key points: –
- Weaker US economic data continues to weigh the US Dollar down
- Chart-Technicals also turn US dollar bearish
- Australian and New Zealand inflation numbers out this week
Weaker US economic data continues to weigh the US Dollar down
It has been an up and down last week for US equities, US bonds and the NZD/USD exchange rate, however the sentiment towards, and direction of, the US dollar currency value remains firmly negative.
The US dollar downtrend, which commenced last October, remains on track with recent weaker US economic data validating and confirming that the USD still has further to depreciate from the current USD Index level of 101.74. The weaker data cannot be surprising to anyone, as households and businesses in the US adjust spending and investment decisions in response to the much tighter monetary policy conditions implemented by the Federal Reserve over the first nine months of 2022.
The FX markets and…