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Goldman Sachs removed its long-dollar view against the euro, sterling and the Chinese yuan from its top trades list. The bank cited Trump's calls for a weaker dollar and the Fed's dovish tone.
Goldman still expects U.S. inflation to accelerate eventually.
A major bank dropping its long-dollar call reflects expectations of a softer dollar, which would support dollar-priced commodities in the near term.
asiatimes.comAsia UnhedgedApr 19, 2017After 1,637 past bearish macro events, US Dollar (Broad) moved a median -0.2% over 5 sessions (39% higher; middle half -0.6% to +0.3%), and -0.2% 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.
