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Strong US data = strong US dollar - UBS

FXStreet (Córdoba) - The UBS analyst team noted that Tuesday's US economic data continued to support the US dollar and they expect a further slide in EUR/USD.

Key Quotes

“Tuesday's US economic data continued to support the US dollar. First, US Inflation remained the fourth month in a row at close to 2% - the Federal Reserve's target”.

“Furthermore, housing starts and building permits jumped strongly, with month over month changes of +15.7% and +8.1%, raising the comfort in the recent housing market rebound”.

“US dollar bulls, such as ourselves, liked the numbers and the USD continued to gain ground. EUR/USD posted a nine-month low and we expect a further slide lower”.

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