USD outlook remains constructive – Westpac

In view of strategists at Westpac, the perspective for the greenback remains constructive in the near term.

Key Quotes

“June and July FOMC hike odds of 24% and 51% respectively should be a ceiling for the time being, certainly the data does not seem like it will cooperate with the Fed”.

“The ISM survey(s) face downside amid weaker regional PMIs while 40k in striking Verizon worklers threatens to produce an underwhelming May payrolls. Chair Yellen of course will have the final say June 6”.

“Bullish month end close and more supportive signals than negative ones”.