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Jan 29 - 10:55 AM

USD: February A Turning Point For USD; Seasonality Analysis Points To USD Gains - Credit Agricole

By eFXdata  —  Jan 29 - 10:00 AM

Credit Agricole CIB Research flags a USD bullish bias in February.

"The month of February could prove to be an important tactical turning point for the USD. We think that, in February, we could see the first tentative indications that the US economic recovery is re-gaining traction on the back of the recent fiscal stimulus and better control over the pandemic, while the US inflation outlook continues to improve," CACIB notes. 

"Our seasonality analysis further suggests that the USD tends to do well on average in February with historic gains particularly pronounced when they followed broad losses in January," CACIB adds. 

Source:
Crédit Agricole Research/Market Commentary

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