The market remains skeptical towards the Dollar. Disappointing US data is set to weigh on the greenback, economists at Commerzbank report.
EUR/USD might easily rise to 1.11 if NFP disappoints
“If the US economic data such as the ADP index and the ISM index for the service sector, due for publication today, disappoints, the Dollar will ease further, like yesterday after the disappointing JOLTS data.”
“The Dollar should react asymmetrically to weaker US data. That means the upper end remains the weaker one in EUR/USD. If the labor market report on Friday disappoints, EUR/USD might easily rise to 1.11.”
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