There is very little scope for Dollar appreciation – Commerzbank

Positive data surprises do not seem to have much of an effect on the Dollar, economists at Commerzbank report.

The expectations of a soft landing are largely priced in

The expectations of a soft landing are largely priced in now and there is very little scope for Dollar appreciation. If this assumption is correct the solid data today is unlikely to cause much of a reaction.

However, the experience of the past weeks illustrates that we have to remain cautious when it comes to US data, as it often did provide a surprise.