Oil could support surprise

Another factor for currency traders to consider is oil prices. With the U.S. in the midst of the hurricane season, disruptions to the energy infrastructure could be key. If the energy sector can avoid severe damage this year, energy prices could decline, which in turn could help boost U.S. economic growth even further.

“Energy is one area that can differentiate views on Europe vs. the U.S.,” Glassman says. “Energy prices have a bigger impact on the U.S. in the shortterm.”