Strong US data = strong US dollar - UBS

By FXstreet.com | Updated August 20, 2014 AAA

FXStreet (Córdoba) - The UBS analyst team noted that Tuesday's US economic data continued to support the US dollar and they expect a further slide in EUR/USD.



Key Quotes

“Tuesday's US economic data continued to support the US dollar. First, US Inflation remained the fourth month in a row at close to 2% - the Federal Reserve's target”.



“Furthermore, housing starts and building permits jumped strongly, with month over month changes of +15.7% and +8.1%, raising the comfort in the recent housing market rebound”.



“US dollar bulls, such as ourselves, liked the numbers and the USD continued to gain ground. EUR/USD posted a nine-month low and we expect a further slide lower”.



You May Also Like

COMPANIES IN THIS ARTICLE
Related Forex Analysis
  1. Forex News

    EUR/USD drops to fresh session lows

  2. Forex News

    Euro Bears at Risk on Sticky CPI- Outlook Remains Bearish Below 1.10

  3. Forex News

    EUR/USD might fall to 1.0755 – FXStreet

  4. Forex News

    EUR/USD testing lows around 1.0780

  5. Forex News

    Barclays – How far can the USD go? – eFXnews

Trading Center