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ING's outlook for 2024 expects lower market rates, a weaker US dollar and possible geopolitical tension. It sees the dollar's next major decline arriving in the second quarter as the Fed begins easing.
It also notes that the dollar is recovering some late-2023 losses.
A weaker dollar in the second half of 2024 would support dollar-denominated commodity prices and export competitiveness. The forecast is a view on timing rather than a confirmed event.
think.ing.comChris Turner, Padhraic Garvey, CFA, Warren PattersonJan 11, 2024After 4,478 past macro events, US Dollar (Broad) moved a median +0.0% over 5 sessions (51% higher; middle half -0.4% to +0.5%), and +0.1% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
