USD strength could still has further momentum – Commerzbank
|The 1.05 mark in EUR/USD was taken out on Wednesday. Economists at Commerzbank analyze the pair’s outlook.
US data holds the key
Durable goods orders in August were much stronger than analysts had expected before. There is more US data due for publication again today. I hope that they will be close to market expectations. If the Dollar were to then ease that would be a signal that at current levels the air is getting thin for the Dollar.
If it were to appreciate further, we would have to come to the conclusion that the trend of USD strength still has further momentum. On Wednesday, the data did not do us that favor but we have another opportunity today!
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