Commerzbank Expects Dollar to Remain Supported Unless Non-Farm Payrolls Data Shows Significant Weakness

Tonight’s U.S. non-farm payrolls data should confirm that the U.S. economy is doing well and should continue to support the dollar, You-Na Park-Heger, currency analyst at Commerzbank, said in a note.

As long as today’s data is not particularly bad, the dollar may continue to find support against a backdrop of a fairly solid economy and a tight labor market.

However, there is a possibility that the market is over-extending non-farm payrolls after Wednesday’s strong U.S. ADP data, so the dollar may initially weaken.