HSBC analysts remain cautious on the outlook for the U.S. dollar.
They said there may be some temptation to revise forecasts in favour of USD strength (due to its safe haven appeal). But, they stopped short of changing their view, pointing to the Federal Reserve as the key reason for restraint.
Referring to recent comments from Federal Reserve Chair Jerome Powell, that when visibility is limited, it is often more prudent for the central bank to slow down.
The analysts also noted that until the Fed adopts an outright hawkish stance, the backdrop does not support a broad-based USD rally.
On gold, HSBC suggested the metal’s longer-term upward trend could resume, but only under the right conditions. In their view, a sustained recovery in gold prices would likely depend on oil prices stabilising before fresh record highs can be reached.
Para conocer la fecha y hora exactas de los principales acontecimientos económicos, importe el Calendario económico de BlackBull Markets para recibir alertas directamente en su bandeja de entrada de correo electrónico.
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