# FX: Challenging our bearish dollar forecast | articles | ING THINK

> ING analysts said their bearish 2021 dollar view rests on the Fed keeping policy loose and on a synchronised global recovery, and both premises are now being questioned. They argued it is too early for wholesale changes to their dollar forecasts. The note discusses reflation trades including higher commodities and a weaker dollar.

- Date: 2021-01-28 · published 2021-01-28T12:00:00.000Z
- Category: macro · region Global · magnitude low
- Page: https://feedsoft.ai/events/49343-fx-challenging-our-bearish-dollar-forecast-articles-ing-think
- Commodities: [US Dollar (Broad)](https://feedsoft.ai/c/DXY.md), [Euro (USD per EUR)](https://feedsoft.ai/c/EURUSD.md)

## Why it matters

If the dollar strengthens rather than weakens, commodity prices denominated in dollars face less support, although ING still expects a weaker dollar over the year.

## Read by commodity

- DXY: neutral
- EURUSD: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| DXY | 2018-09-26 | [A crucial Fed meeting for the dollar \| articles \| ING THINK](https://feedsoft.ai/events/63240-a-crucial-fed-meeting-for-the-dollar-articles-ing-think.md) | +0.2% | +1.5% |
| DXY | 2023-11-30 | [FX Daily: Dollar rebound increasingly hinges on activity data \| articles \| ING THINK](https://feedsoft.ai/events/33381-fx-daily-dollar-rebound-increasingly-hinges-on-activity-data-articles-ing-think.md) | +0.6% | -1.2% |
| DXY | 2023-11-15 | [Asia FX Outlook 2024: Event risk could dominate \| articles \| ING THINK](https://feedsoft.ai/events/33436-asia-fx-outlook-2024-event-risk-could-dominate-articles-ing-think.md) | -0.9% | -0.2% |
| DXY | 2019-06-07 | [Fed easing and the dollar: Necessary, but not sufficient \| articles \| ING THINK](https://feedsoft.ai/events/58788-fed-easing-and-the-dollar-necessary-but-not-sufficient-articles-ing-think.md) | -0.3% | -0.7% |
| DXY | 2024-08-30 | [FX Daily: US and eurozone inflation in focus \| articles \| ING THINK](https://feedsoft.ai/events/29011-fx-daily-us-and-eurozone-inflation-in-focus-articles-ing-think.md) | +0.2% | -0.9% |
| EURUSD | 2019-12-12 | [EUR & ECB: The funding characteristic of the euro still intact \| articles \| ING THINK](https://feedsoft.ai/events/55781-eur-and-ecb-the-funding-characteristic-of-the-euro-still-intact-articles-ing.md) | +0.2% | +0.2% |
| EURUSD | 2024-08-30 | [FX Daily: US and eurozone inflation in focus \| articles \| ING THINK](https://feedsoft.ai/events/29011-fx-daily-us-and-eurozone-inflation-in-focus-articles-ing-think.md) | 0.0% | +0.7% |
| EURUSD | 2020-01-23 | [EUR & the ECB: The good, boring funding currency \| articles \| ING THINK](https://feedsoft.ai/events/55291-eur-and-the-ecb-the-good-boring-funding-currency-articles-ing-think.md) | -0.7% | -2.6% |

## Sources

- think.ing.com: https://think.ing.com/articles/fx-challenging-our-bearish-dollar-forecast/

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