2 December 2022 | Other

Commerzbank: US dollar is unlikely to strengthen even on optimistic non-farm payrolls

The issue of inflation is currently of less importance in the foreign exchange market. Thus, according to economists at Commerzbank, dollar bears will not suffer losses even on the release of optimistic nonfarm payrolls.

Should the November labor market report look upbeat, the last dollar bulls may become enthusiastic on high wage inflation. The labor market tends to be the last market to change the rate of inflation. That’s why the bears may not change their mind today even on a positive labor report.

Economists also point to the speed at which the currency market anticipates events. They make dollar exchange rate forecasts for the coming year, given the fact that the market assesses inflation risks step by step. However, if market events show up more rapidly, EURUSD will hit 1.10 more quickly.

Company MarketCheese
Brent sell
Period: 11.07.2025 Expectation: 400 pips
Brent falls ahead of OPEC+ decisions
Yesterday at 10:05 AM 27
Period: 18.07.2025 Expectation: 900 pips
AUDCAD is likely to keep pulling back from its monthly high
Yesterday at 08:08 AM 26
Period: 10.07.2025 Expectation: 1200 pips
Selling USDJPY during rebound with 142.430 target
03 July 2025 51
Period: 11.07.2025 Expectation: 220 pips
Heatwaves across Europe and US support gas price recovery from recent lows
03 July 2025 138
Period: 08.07.2025 Expectation: 1500 pips
EURUSD rally faces potential correction toward 1.165
02 July 2025 77
Period: 09.07.2025 Expectation: 1400 pips
USDCAD declines amid US dollar weakness and improving Canadian trade prospects
02 July 2025 53
Go to forecasts