In the view of Antje Praefcke, FX Analyst at Commerzbank, positive data from the United States has the potential to lift the greenback.

Price and labour market data will have even more potential to move USD

“The Fed drives at the sight and is basing its decisions very much on the data. That means that presumably any data – in particular price and labour market data – will have even more potential to move the Dollar in the foreseeable future.”

“The Dollar will appreciate more significantly in case of good US data than it eases in case of negative data. That means the lower end in EUR/USD remains the more vulnerable one.”