DXY to end the week above 104.00 – ING

The US Dollar (USD) consolidates gains following Thursday’s rebound. Economists at ING analyze Greenback’s outlook.

There are some upside risks for the Dollar today

Today, the ISM manufacturing index will be in focus. There is a risk that it hits the 50.0 mark (or above) for the first time since October 2022, which can reinforce expectations of an extra-resilient economic environment in 1Q. 

Given the index has been in contraction for a very long time, downside surprises may not have the same impact as a rebound to 50+. So, there are some upside risks for the Dollar today, although data in the Eurozone can also play a role in price action before the weekend. 

All in all, we stand by our call for DXY to end the week above 104.00.