The Dollar continues to edge lower. Economists at ING analyze USD outlook.
Focus on US October Existing Home Sales data and FOMC Minutes
Look for further Dollar weakness today given the risk of the lowest US Existing Home Sales data since 2010 and some FOMC Minutes which could be read less hawkishly.
DXY traded below support at 103.45 (now resistance) and could drift towards 102.95/103.00 and possibly 102.55 depending on today’s data and the minutes.
See: EUR/USD to break 1.0960/1.0965 resistance and test 1.10 on soft US Existing Home Sales data – ING