USD Weekly Forecast (Feb. 17 – 21)

Partner Center Find a Broker

Can the dollar sustain is uptrend? Here are catalysts that could change the tides for the Greenback!

FOMC-related events

The Federal Open Market Committee meeting minutes (Feb 19, 7:00 pm GMT) could provide clues on what members think about the balance sheet, inflation trends, Coronavirus threats, and other downside risks
FOMC member Neil Kashkari (Feb 18, 7:00 pm GMT) will give a speech in Minnesota
FOMC member Loretta Mester (Feb 19, 1:30 pm GMT) will be in a forum in Philadelphia
Kashkari will return with another speech in Minnesota (Feb 20, 4:45 pm GMT)
FOMC member Robert Kaplan (Feb 19, 6:30 pm GMT) will give a speech titled “View from the Fed” in Dallas
FOMC member Lael Brainard (Feb 21, 3:15 pm GMT) will discuss monetary policy for the next recession in New York
FOMC member Richard Clarida (Feb 21, 6:30 pm GMT) will participate in a panel discussion in New York

Markit’s manufacturing PMI is seen at 51.5 after printing at 51.9 in January
The services PMI could improve from 53.3 to 53.5 in February
Keep an eye out for their employment components, which could factor in the next NFP release

Risk aversion and a strong U.S. equities market have boosted USD demand for most of February
Will we see retracements or reversals this week?

Stochastic has flagged USD as “overbought” against EUR, JPY, and CHF on the daily time frame

USD/CHF is “bearish but weakening” with the longer-term SMAs and “bullish” on the shorter-term SMAs. Watch out for possible retracements or reversals