HSBC: The dollar may bottom in early 2026, and Federal Reserve officials are in focus this week
2025-11-03 03:13:49
The dollar could bottom in early 2026 as the Federal Reserve is expected to cut interest rates further and the next chair is unclear, according to HSBC Global Investment Research. The bank believes that the dollar bears will face a new test this week, with speeches by multiple Federal Reserve officials and indicators of US economic activity in the spotlight. The sensitivity of the dollar may further increase. With Fed Governor Cook due to speak on Monday, Bowman on Tuesday, Williams and Musalem on Thursday, and Vice Chairperson Jefferson scheduled to speak on Friday, the market will be closely watching these officials for hints on the direction of policy in December. HSBC added that ISM data released on Monday and Wednesday, as well as the ADP jobs report released on Wednesday, are expected to have a greater impact on the dollar's movement in the coming days. (Jin Ten)
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