{"id":18523,"date":"2023-06-05T17:37:38","date_gmt":"2023-06-05T21:37:38","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/forex\/dollar-bears-to-remain-on-sidelines-until-u-s-economy-runs-out-of-steam-goldman\/"},"modified":"2023-06-05T17:37:38","modified_gmt":"2023-06-05T21:37:38","slug":"dollar-bears-to-remain-on-sidelines-until-u-s-economy-runs-out-of-steam-goldman","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=18523","title":{"rendered":"Dollar bears to remain on sidelines until U.S. economy runs out of steam: Goldman"},"content":{"rendered":"
\n

Investing.com — The dollar was little changed Monday after snapping a three-week win streak last week,\u00a0but a surprisingly strong U.S. economy suggests it is\u00a0too early to bet the bears may soon\u00a0resume their grip on the greenback, Goldman Sachs said.<\/p>\n

The , which measures the greenback against a trade-weighted basket of six major currencies, was flat at 103.96.<\/p>\n

The trend of a stronger U.S. economy and a weakness in Europe and China\u00a0continues to be positive for the dollar in the near term, according to Goldman Sachs. This\u00a0pattern will have to “abate before medium-term shallow dollar depreciation can come back into view,” it added.<\/p>\n

The remarks arrived just after the U.S. economy produced a blowout monthly jobs report, released Friday, in keeping with a trend seen over the better part of a year, Goldman Sachs says, showing that “hard data have been consistently stronger than expected in the U.S. while soft survey data have generally been weaker than expected.”\u00a0<\/p>\n

The strong data hasn’t gone unnoticed at the Federal Reserve, meanwhile, where Fed officials have had to acknowledge the resilience of the economy by shifting language to a “skip” rather than a pause of rate hikes.\u00a0<\/p>\n

About 75% of traders expect the Fed to skip rate hikes at its next meeting later this month with about 50% expecting the central bank to resume rate hikes in July, according to Investing.com’s <\/p>\n

Some on Wall Street, however, believe that a skip in June paves the way for an extended pause for the rest of the year.<\/p>\n

“We expect the Chair’s [Jerome Powell’s] press conference to be heavily focused on communicating that the Fed will be on hold for an extended period of time,” Morgan Stanley said in a Monday note.<\/p>\n

If the Fed, however, does stick with skipping that would support investor sentiment on risk assets and could threaten the safe-haven dollar, but “we suspect that downside will continue to be shallow and limited by U.S. macro performance,”\u00a0\u00a0 Goldman Sachs said.<\/p>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Investing.com — The dollar was little changed Monday after snapping a three-week win streak last week,\u00a0but a surprisingly strong U.S. economy suggests it is\u00a0too early to bet the bears may soon\u00a0resume their grip on the greenback, Goldman Sachs said. The , which measures the greenback against a trade-weighted basket of six major currencies, was flat […]<\/p>\n","protected":false},"author":1,"featured_media":18524,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[244],"tags":[83],"class_list":["post-18523","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-forex","tag-featured"],"yoast_head":"\nDollar bears to remain on sidelines until U.S. economy runs out of steam: Goldman | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Investing.com -- The dollar was little changed Monday after snapping a three-week win streak last week,\u00a0but a surprisingly strong U.S. economy suggests it\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=18523\" \/>\n<meta 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