High beta currencies look vulnerable in the short run – ING

Economists at ING suspect high-beta currencies are at risk of corrections.

Room for a DXY stabilisation around 104.00 or a rebound already today

We believe high-beta currencies are looking expensive in the very short run. The prospect of unstable risk sentiment and a Dollar leg higher ahead of next week’s PCE points to downside potential.

Today, the US calendar includes the Conference Board's Consumer Confidence indicator, which is expected to have plateaued in February. We see room for a DXY stabilisation around 104.00 or a rebound already today as risk sentiment softens.

Feb 23, 2024

EUR/GBP remains on backfoot near 0.8550 as UK’s economic outlook improves

The EUR/GBP pair remains subdued at around 0.8550 in the London session on Friday.

WTI keeps the red below mid-$77.00s, remains on track to register modest weekly losses

West Texas Intermediate (WTI) US Crude Oil prices drift lower on the last day of the week and move away from a fresh monthly peak, around the $78.75 region touched on Thursday.