USD/QAR Outlook:
Slightly positive, but likely to move sideways, as the rate is near the recent average and lacks a clear driver.
Key drivers:
• Rate gap: The Federal Reserve's decision to keep interest rates steady contrasts with Qatar's recent rate hikes, supporting the QAR.
• Risk/commodities: Oil prices are significantly above average, positively influencing the QAR due to its relation with the economy.
• One macro factor: A surprising increase in U.S. job numbers suggests economic strength, which could bolster the USD.
Range:
Expect the USD/QAR to drift within its recent range, given the stability shown in the currency pair.
What could change it:
• Upside risk: A stronger-than-expected U.S. economic report could lead to an increase in demand for USD.
• Downside risk: If oil prices decline, it might weaken the QAR against the USD, leading to a downward pressure.
