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- EUR/USD: Unlikely to move back above the 1.10 mark this year – Commerzbank
EUR/USD: Unlikely to move back above the 1.10 mark this year – Commerzbank
The year is drawing to a close. Antje Praefcke, FX Analyst at Commerzbank, does not expect substantial moves in EUR/USD over the coming days.
Interesting and informative will have to wait until next year
A few more sets of economic data are due for publication ahead of the weekend which might push the Greenback backwards and forwards a little. However, it is unlikely to be sufficient to push EUR/USD back above the 1.10 mark again and keep it there. It would have to surprise significantly on the negative side for interest rate expectations and the Dollar to be moved notably.
We will only receive the really important data, like the US labour market report and the December inflation data for the Eurozone in the first week of January. At that point, things are going to get livelier again in EUR/USD.
Due to thin trade at the end of this and during next week sudden fluctuations in EUR/USD are of course possible, but I think the FX market is going to end the turbulent year quietly. Things are only going to get interesting and informative in the New Year again.
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