Dollar Strength

U.S. investors renewed optimism in pro-growth policy last week sparked by a promise by the White house to overhaul business taxes. In response, the US Dollar index traded higher for the first weekly gain since December, although unable to sustain gains above the crucial 101.00 big figure.

Big losers this week against the USD include the euro and pound, which both bell 0.3% against the Greenback.

Dollar Outlook

While many investors have been selling the USD since Trump stated that the currency was already too strong, Citigroup Inc., which is the world’s largest Forex trading firm, predicts a rising dollar in 2017.

Time will tell. This week was a choppy week as the 2017 trend shifted from a weaker dollar to a stronger one, but we expect more trading opportunities in the week ahead as the Forex market corrects itself.

Economic Calendar – High Alert

A few headliners to be aware of next week.