US Payrolls Data May Limit Euro's Advance, Commerzbank Says
Commerzbank analyst Michael Pfister warns that upcoming U.S. employment figures could halt the euro's recent rise against the dollar, as the Fed's policy outlook remains uncertain.
EURUSD
Reduced expectations for Federal Reserve tightening have supported the euro's climb, but Commerzbank's Michael Pfister questions the sustainability of this move. The analyst cautions that a strong U.S. payrolls report could reinforce the dollar and limit further EUR/USD gains.
The market currently prices in a less aggressive Fed, but Pfister suggests that robust employment numbers would challenge that view, potentially capping the euro's upside. The currency pair's trajectory hinges on incoming U.S. data that might sway the Fed’s stance.
Source: FXStreet Forex News