US FX WRAP: Dollar sees two-way trade as risk sentiment sours to benefit of havens
The headline indicates that the dollar is experiencing fluctuating trade dynamics due to deteriorating risk sentiment, which is typically supportive of safe-haven assets like the USD and JPY.
Venezuela's state-owned PDVSA is reportedly offering neighbouring areas to JV partners and talks have progresses with US and European oil co.'s on possible JV expansions, according to reports
US Energy Secretary Wright says Venezuela will increase production 30-40% in the first year and US will not guarantee security on ground in Venezuela; Russia's, China's and Iran's influence in Venezuela will wane
US FX WRAP: Dollar sees two-way trade as risk sentiment sours to benefit of havens
NY Fed says the desk plans to conduct an additional approximately USD 40bln in reserve management purchases and c. USD 13.4bln in reinvestment purchases between February 13th and March 12th
Sysco (SYY) Teamsters vote to authorise strike in Chicago and Montana
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This two-way movement also suggests traders are repositioning based on upcoming economic data and the monetary policy outlook, potentially affecting rates and demand for riskier currencies. Keep an eye on the correlations between the dollar and more traditional safe havens as market sentiment evolves.
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