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Dollar near-term outlook seen constructive despite long-term risks

Societe Generale points to a data-heavy US calendar, including JOLTS, ADP, and ISM surveys, as potential support for the Dollar Index in the short run.

Reported · Written up by our desk · Major Pairs

Societe Generale strategist Kit Juckes says the longer-term outlook for the US dollar is becoming less favorable due to US political uncertainty and shifts in global savings patterns, while the near-term picture remains constructive, according to FXStreet.

In the short run, Juckes cites the combination of strong US data and still-elevated inflation that could keep the Dollar Index supported, potentially pushing it toward 2026 highs, and driving EUR/USD to fresh lows.

The strategist also argues that energy importers are still under pressure because the yen has not yet benefited from tighter monetary policy and the euro has not gained support from upgrades to growth expectations.

FXStreet adds that Juckes points to a crowded US data calendar, including JOLTS, ADP employment, personal income and spending, trade, ISM surveys, and labor data.

Latest closeEUR/USD 1.139 ▲0.1%|Dollar index 101.03 ▼0.2%

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