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home / news releases / pboc cuts reserve requirements but usd pullback may

AFMC - PBOC Cuts Reserve Requirements But USD Pullback May Offer New Buying Opportunity In North America

First Trust Active Factor Mid Cap ETF

2024-01-24 07:00:00 ET

Summary

  • After a strong showing yesterday, the dollar was sold in Asia and Europe.
  • The dollar's decline has stretched intraday momentum indicators.
  • The PBOC announced a 50 bp cut in reserve requirements, effective early next month.
  • The eurozone's January flash PMI confirms what we already know.

Overview

After a strong showing yesterday, the dollar was sold in Asia and Europe. China announced a cut in reserve requirements and took more informal action to support the stock market, which encouraged risk-taking. Yet, the dollar's decline has stretched intraday momentum indicators, which may provide early operators in North America a new dollar buying opportunity. The ECB and Norway's central banks meet tomorrow, and the US reports its first estimate of Q4 23 GDP....

For further details see:

PBOC Cuts Reserve Requirements, But USD Pullback May Offer New Buying Opportunity In North America
Stock Information
Company Name: First Trust Active Factor Mid Cap ETF
Stock Symbol: AFMC
Market: NASDAQ
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