EURUSD has risen. Overview for 31.08.2023

The major currency pair strengthened on Thursday. The current EURUSD exchange rate stands at 1.0920.

The statistics published yesterday in the US were pessimistic, illustrating economic sentiment at times of high interest rates. The market interpreted the data as a signal of the Federal Reserve potentially reconsidering raising the interest rate. In general, everything is as expected, with the primary market catalyst now being various speculations on the topic of interest rates.

US GDP grew by 2.1% in Q2 against a forecast of a 2.4% increase. Over Q1, the economy expanded by 2.0%. The number of jobs in the US private sector from ADP increased by just 177 thousand in August, which is less than expected. A month earlier, the indicator had risen by 371 thousand.

There is no correlation between ADP statistics and Friday's non-farm payrolls report. Nevertheless, they provide an overall impression of what is happening.