Tuesday was another strong day for the USD. Ulrich Leuchtmann, Head of FX and Commodity Research at Commerzbank, analyzes Greenback’s outlook.
It seems to me that the necessary condition for EUR/USD weakness is for the majority of the market to take a more optimistic economic view of the US rather than Europe. That means the reason for the USD strength therefore is the prospect of a special ‘soft landing’ of the US economy. Is this prospect realistic? It is not impossible. And for that reason, I do not want to claim that the USD strength necessarily rests on clay feet. However, a soft landing is not a fait accompli either.
It seems to me that the FX market has become too convinced of a ‘soft landing’ for the US economy. If we do see that, a little further USD strength might be justified, but probably not much more. If we don’t see it though, a strong correction of USD strength would then be justified. For that reason, I still feel more comfortable in the camp of skeptics, who are not so confident about the recent USD strength.
I am well aware of the fact that my skepticism may turn out to be inappropriate if the soft landing of the US economy does materialize but have the impression that the skeptic camp is not sufficiently populated.
© 2000-2025. Sva prava zaštićena.
Sajt je vlasništvo kompanije Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
Svi podaci koji se nalaze na sajtu ne predstavljaju osnovu za donošenje investicionih odluka, već su informativnog karaktera.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Izvršenje trgovinskih operacija sa finansijskim instrumentima upotrebom marginalne trgovine pruža velike mogućnosti i omogućava investitorima ostvarivanje visokih prihoda. Međutim, takav vid trgovine povezan je sa potencijalno visokim nivoom rizika od gubitka sredstava. Проведение торговых операций на финанcовых рынках c маржинальными финанcовыми инcтрументами открывает широкие возможноcти, и позволяет инвеcторам, готовым пойти на риcк, получать выcокую прибыль, но при этом неcет в cебе потенциально выcокий уровень риcка получения убытков. Iz tog razloga je pre započinjanja trgovine potrebno odlučiti o izboru odgovarajuće investicione strategije, uzimajući u obzir raspoložive resurse.
Upotreba informacija: U slučaju potpunog ili delimičnog preuzimanja i daljeg korišćenja materijala koji se nalazi na sajtu, potrebno je navesti link odgovarajuće stranice na sajtu kompanije TeleTrade-a kao izvora informacija. Upotreba materijala na internetu mora biti praćena hiper linkom do web stranice teletrade.org. Automatski uvoz materijala i informacija sa stranice je zabranjen.
Ako imate bilo kakvih pitanja, obratite nam se pr@teletrade.global.