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CA: USD to stay flat until April

Strategists at Credit Agricole expect USD to stay range-bound until April, when the outcoming data stops to be weather-dependant. 

They point that the Fed's Chairwoman Yellen has changed her rhetorics in the yesterday's testimony, reffering to the weather in the US. In her words, she noted that, “…a number of data releases have pointed to softer spending than many analysts had expected. Part of that softness may reflect adverse weather conditions, but at this point it is difficult to discern how much." 

Markets now want to see "clean" statistics in order to estimate the real economic conditions in US. 

Chart: Bloomberg

 

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