Difficult environment for the US Dollar, in the view of economists at Commerzbank.

Quiet start to the week

“In the run-up to the US inflation data, due for publication tomorrow, trade at the start of the week was rather quiet, today too is unlikely to provide any momentum on the data front.”

“Generally speaking, the environment for USD remains tricky. The market continues to expect imminent rate cuts and the inflation data tomorrow is unlikely to change this expectation.”

“As the data side of things has little to offer today, focus is likely to be on the news flow. Tomorrow at the latest the FX market is likely to become a little livelier again.”