Today’s US data unlikely to cause major adjustments in the Dollar – Commerzbank

Following the risk event “ECB meeting” attention will now focus on the Dollar again. Antje Praefcke, FX Analyst at Commerzbank, does not expect US data to have a significant impact on the USD.

There is no point in looking at the US data

Decisive for the Fed will be insights into inflation developments and the labour market. I can therefore imagine that the data published over the past weeks has already produced a ‘big picture’ for many FOMC members, which is not likely to be completely shaken by the data on the agenda for today, but will at best be adjusted slightly.

Today’s US data might be sufficient for a few pips, but it is unlikely to cause major adjustments in the Dollar – if any at all.