25 Jun 2014
EUR/USD: US data supports the dollar - UBS
FXStreet (Córdoba) - The UBS analyst team commented that now that winter is over, US data releases are confirming the improvements in US economy, supporting the USD.
Key Quotes
“Winter is over and this is important for the US, as the last winter was a harsh one. It is therefore nice to see how the data releases on Tuesday confirmed the improvements in line with other recent upside surprises”.
“Consumer confidence jumped from 83.0 to 85.2. New home sales reached their post-recession high. On the other side of the pond the German ifo index for June fell below May values as the expectations component surprised to the downside”.
“This confirms the downtrend for EUR/USD”.
Key Quotes
“Winter is over and this is important for the US, as the last winter was a harsh one. It is therefore nice to see how the data releases on Tuesday confirmed the improvements in line with other recent upside surprises”.
“Consumer confidence jumped from 83.0 to 85.2. New home sales reached their post-recession high. On the other side of the pond the German ifo index for June fell below May values as the expectations component surprised to the downside”.
“This confirms the downtrend for EUR/USD”.