General mood on the Dollar may stay modestly bearish – ING

The Dollar has started the week modestly offered. Economists at ING analyze Greenback’s outlook.

FX markets may stay quiet

We’ll keep monitoring Fed speakers today, with Thomas Barkin and Raphael Bostic (the latter swings more on the dovish side) set to deliver remarks. However, focus will also be on US data, with housing starts set to have declined along with building permits in November. October TIC data are also due today.

Wednesday’s consumer confidence and Friday’s PCE and personal income numbers will be the last bits of data that can move the market before Christmas. 

Today, FX markets may stay quiet, and the general mood on the Dollar modestly bearish if anything unless we hear some more convincing pushback on rate cuts by Fed officials.