USD appears strong. Overview for 24.08.2023

The major currency pair's position is unchanged on Thursday. The current EURUSD exchange rate stands at 1.0870.

US statistics are mixed. For example, while the forecast was more optimistic, the preliminary services PMI from Markit showed a decline to 51.00 points in August against 52.30 points earlier. The manufacturing PMI, in turn, dropped to 47.00 points from the previous 49.00. The slowdown in business activity is attributed to both the presence of pro-inflationary factors and overall uncertainty in the US economy.

Ahead of the key speech by the US Federal Reserve's chair Jerome Powell in Jackson Hole, the US dollar maintains its balance, but by Friday, volatility in the major pair may increase.

Today it is worth paying attention to the statistics relating to orders for durable goods in July.