Explore eFXplus Derived Data That Drive Results
A Data Partner of:
Refinitiv
May 09 - 10:55 AM

USD: Seasonality In 2022; What Is The Strong Day-Of-The-Week To Buy The USD? - BofA

By eFXdata  —  May 09 - 10:14 AM

Bank of America Global Research discusses the seasonality trade for the USD in 2022.

"The DXY has gained around 8% year-to-date. We find the USD has made most (4.1%) of its gains in 2022 on Thursdays and Fridays. Cumulative USD return for Thursdays and Fridays was respectively 1.9% and 2.2%. At the same time, the US equity market has sold-off the most on Thursdays and Fridays. Cumulative loss for Thursdays has been -10.6% and for Fridays -7.9%," BofA notes. 

In our view, investors are more reluctant to hold risky assets over the weekend due to (1) the on-going war in Europe, (2) the withdrawal of central bank liquidity increasing "price gap" risks, which supports demand for the USD," BofA adds. 

Source:
BofA Global Research

Subscription

  • eFXplus
  • End-user license agreement (EULA)

About

  • About
  • Contact Us

Legal

  • Terms of Service
  • Privacy Policy
  • Disclaimer
© 2022 eFXdata · All Rights Reserved
!