Crédit Agricole: The end of the U.S. government shutdown may halt the dollar's upward momentum
ChainCatcher News, according to Golden Ten Data, Crédit Agricole stated that the upward momentum of the US dollar since October will face a major test as the US government shutdown may soon come to an end. The bank pointed out that once the US government shutdown ends and the release of economic data resumes, weak data may highlight its negative impact on the economy and fuel dovish sentiment. In addition, as the government shutdown ends and the Treasury's cash hoarding is lifted, the liquidity premium of the US dollar may dissipate, causing the dollar to lose another supporting factor.
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Overseas capital is aggressively buying US stocks! Net inflows reached $942 billions over the past 12 months, marking a record since 1985.
According to data from the US Department of the Treasury, in the 12 months ending July this year, overseas investors made net purchases of US stocks totaling $942 billion, marking the highest rolling 12-month total since records began in 1985. The net purchases in the second quarter alone reached $426 billion, setting a new single-quarter record. Meanwhile, overseas demand for US Treasuries has noticeably cooled, with purchase volumes falling significantly. As a result, the US is facing higher costs in government debt financing.
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