EUR/USD has turned sideways after a decent correction from above the figure of 1.0000. In the opinion of economists at Commerzbank, there is no new momentum in the pair.

EUR/USD does not differ significantly from a random walk

“EUR/USD does not differ significantly from a random walk, for which no trade strategy is successful, as you will know.”

“The downside move of the past days can be explained very easily with non-systemic arguments. Trying to turn this into a story which would have implications for the EUR/USD moves over the coming days is not supported by the data.”