Forex Flash: EUR/USD runs against data mix – UBS

FXstreet.com (Córdoba) - EUR/USD was creeping higher on Tuesday, despite a data mix, that should have strengthened the USD, according to the UBS analyst team. "The German ZEW survey gave another confirmation that investors feel uneasy about the economic development. In the US, on the other hand, housing starts were quite upbeat and dismissed worries that the US housing recovery comes to an end".

"We still expect EURUSD to top out soon", says UBS. "In particular, the weak commodity prices should eventually support the USD".