December meeting.

USD Holds Steady Ahead of Key ADP Data Release

FX markets are struggling to find direction this week. The Fed’s doubts on whether to cut in December naturally increase scrutiny of data: this means both depressed volatility during data silence and some potential exacerbation of USD reaction to any labour indicator (like tomorrow’s ADP). Our call remains that the dollar is close to its peak

US Data Keeps Dollar on Edge Ahead of Key Releases

The US Dollar has been enjoying a renaissance of sorts this week with gains largely down to US data not being bad at all.

Looking at the data this week, the sales rate for US new homes spiked back to levels last seen in early 2022.