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ING's weekly G10 FX preview says the dollar is drifting lower, with the DXY at about 89.85 and a mildly bearish bias. It expects Congress to pass a FY21 budget and a stimulus package to avoid a government shutdown.
The note sees the dollar continuing to ease into year-end.
A softer dollar generally supports dollar-priced grains, oilseeds and other commodities. Expected fiscal stimulus adds to the case for continued dollar weakness.
think.ing.comChris Turner, Francesco PesoleDec 21, 2020Not enough comparable past events yet for a historical read.
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.
