# USD to extend its gains short term, but a broad-based decline is only delayed – ING — Octa

> ING expects the dollar to stay firm in the short term after Fed Chair Powell's hawkish Senate testimony triggered a dollar rally. ING still expects a broad-based dollar decline over the longer run, as markets may be underestimating US hard-landing risks.

- Date: 2023-03-08 · published 2023-03-08T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/37063-usd-to-extend-its-gains-short-term-but-a-broad-based-decline-is-only-delayed
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md)

## Why it matters

A firm near-term dollar pressures dollar-priced commodities and US export competitiveness, while the expected longer-run decline would support them later.

## Read by commodity

- DXY: bullish ▲

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2024-03-28 | [USD gains on Fed Waller’s ‘no rush’ comment but may struggle to extend further – Scotiabank — Octa](https://feedsoft.ai/events/31390-usd-gains-on-fed-waller-s-no-rush-comment-but-may-struggle-to-extend-further.md) | +0.0% | +1.6% |
| DXY | 2021-05-28 | [AUD/USD remains depressed around 0.7720 as focus shifts to US data — Octa](https://feedsoft.ai/events/47338-aud-usd-remains-depressed-around-0-7720-as-focus-shifts-to-us-data-octa.md) | -0.1% | +1.0% |
| DXY | 2017-06-15 | [USD extends gains across the board after the data and - Forex Crunch](https://feedsoft.ai/events/10198-usd-extends-gains-across-the-board-after-the-data-and-forex-crunch.md) | +1.1% | -0.5% |
| DXY | 2024-01-29 | [EUR/USD declines to near 1.0840 on Middle East tension, Eurozone GDP data eyed](https://feedsoft.ai/events/32343-eur-usd-declines-to-near-1-0840-on-middle-east-tension-eurozone-gdp-data-eyed.md) | +0.2% | +0.4% |
| DXY | 2018-07-29 | [USD Gains on Fed to Add Pressure, IDR at Support – ASEAN Weekly \| Nasdaq](https://feedsoft.ai/events/64363-usd-gains-on-fed-to-add-pressure-idr-at-support-asean-weekly-nasdaq.md) | +0.2% | +0.7% |

## Sources

- octabroker.com: https://www.octabroker.com/markets/news/view/1028429/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.