12 Jun 2015
USD poised for further gains – Danske Bank
FXStreet (Edinburgh) - According to Analyst Kristoffer Lomholt at Danske Bank, the greenback could advance further in the near term following upbeat results in the US economy.
Key Quotes
“USD gained yesterday on the strong US retail sales data supporting our view that the US economy will recover in the coming quarters”.
“As such, EUR/USD is currently caught between a weak global risk appetite and a brighter outlook for the US economy”.
“However, while the short-term outlook is rather cloudy, stronger US data will eventually win the battle for the USD, paving the way for a lower EUR/USD as a Fed rate hike becomes more evident”.
“We call for a small increase to 91.0 in the Michigan consumer confidence and thus yet another improvement in US data, which might result in a lower EUR/USD before the weekend”.
Key Quotes
“USD gained yesterday on the strong US retail sales data supporting our view that the US economy will recover in the coming quarters”.
“As such, EUR/USD is currently caught between a weak global risk appetite and a brighter outlook for the US economy”.
“However, while the short-term outlook is rather cloudy, stronger US data will eventually win the battle for the USD, paving the way for a lower EUR/USD as a Fed rate hike becomes more evident”.
“We call for a small increase to 91.0 in the Michigan consumer confidence and thus yet another improvement in US data, which might result in a lower EUR/USD before the weekend”.