Flash: US data leaves USD unchanged, as Fed is eyed - UBS

FXstreet.com (Córdoba) - A rather upbeat US housing market report and a contained inflation report left the EUR/USD unchanged, notes the UBS analyst team.

"A slight positive surprise in the German ZEW survey lifted EURUSD slightly to a new cyclical high. However, market focus is clearly lying on the Fed communication on Wednesday", UBS says. "Does the Fed signal an end to the quantitative easing program and what would be the reason to end the program? The answers to these questions are key to our expected drop of EURUSD".