Daily Note – King Dollar

GM360Summary:

USD strengthens once again

United States: Data beginning to strengthen

 

 

Good morning,

We continued to believe in the long-term bullish Dollar story.

Although it appears that Q2 US growth will indeed be below the Fed’s quite optimistic forecast, events appear to have changed this week. We think that the next leg of the US Dollar bull market has begun already, and we have started to increase our exposure. Over time, we expect the Dollar strength to be broad based as it was last year. However, it would appear that weakness in the Euro is kick-starting the bigger Dollar bull market back to life after the ECB announced its intention to front load QE and do more if necessary.

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Global Macro-Daily Note 27th May 2015

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Categories: Daily Note