Home›Forex›Major Pairs›Dollar gains supported by data risks and oil price jum…

Dollar gains supported by data risks and oil price jump, ING says

ING expects September consumer confidence to stabilize near 89 and views upcoming JOLTS data as key for the dollar’s next move.

Reported · Written up by our desk · Major Pairs

ING’s Francesco Pesole said fading optimism on US-Iran talks and rising oil prices are helping support the dollar, noting Brent is near $107 after touching $109 per barrel.

He added that rapidly rising rates are a concern for equities, while warning that a “tail risk” could grow if high valuations reach a tipping point as rates move higher.

FXStreet reports that Pesole expects the focus to shift back to US data, with September consumer confidence expected to stabilize around 89, and JOLTS providing more nuance to the August jobs picture.

He also said the dollar’s ability to correct lower depends on stability in bond markets, which he linked to oil, adding that upside risks for the greenback are rising again.

Latest closeBrent $98.85 ▼5.2%

More like this

Sources