Ulrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, analyzes US data and their effect on USD exchange rates. Some traders clearly wer
Ulrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, analyzes US data and their effect on USD exchange rates.Thursday’s correction of USD strength developed quite independently of the data publications. Some traders clearly were not comfortable with EUR/USD levels below 1.05 and the data did not change that significantly. Of course, this does not point towards a trend reversal, not even towards a complete end of the USD rally.
Because the market has bet so clearly on a soft landing, I assume that the USD exchange rates will react particularly sensitively to data that does not confirm this view.Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets.
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