EURUSD gathered strength. Overview for 07.03.2023

EURUSD uses any base for growth efficiently. The current quote is 1.0690.

Investors are nervous before the evening speech of the chairman of the Federal Reserve System Jerome Powell in the Senate. The market abstains from any activity because the tension around Powell’s comments is quite high.

Let us see what Powell will say about inflation prospects and future monetary steps of the Fed. Anything to do with hawkish moods of the regulator might support the USD. Soft comments will make the dollar retreat.

The EUR ignored the publication of German statistics of production orders volume in January. The indicator grew by 1% m/m instead of falling by 1% m/m as expected.