EUR/USD to tank toward 1.05, GBP/USD to 1.19 if US data exceeds expectations – SocGen CPI RetailSales DollarIndex EURUSD Banks
report will be followed by Retail Sales tomorrow. Economists at Société Générale analyze how the upcoming data could impact the US Dollar.a gain in headline of 0.4% MoM, the largest since October. A hot number that lends credibility to the repricing of the Fed outlook could mean more trouble for risk assets and high beta FX, accelerate the unwinding of bullish January trends which have characterised the first two weeks of February.
“Dollar bulls will be inclined to raise targets to 105 area for the DXY if data today and tomorrow exceeds expectations. This would correspond to 1.05 inInformation on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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