The USD is trying to strengthen. Overview for 08.06.2021

EURUSD stopped growing on Tuesday morning; the “greenback” is trying to recover its losses.

The major currency pair is consolidating on Tuesday. The current quote for the instrument is 1.2184.

The statistics published yesterday were in favor of the European currency. For example, the Sentix Investor Confidence improved to 28.1 points in June after being 21.0 points the month before and against the expected reading of 25.5 points. 

Today is going to be rich in the news. In the afternoon, the Euro Area is scheduled to publish a revised report on the GDP for the first quarter of 2021. The previous estimate was -0.6% q/q and the second one is expected to be the same. In addition to that, there will be numbers on the ZEW Economic Sentiment for both the Euro Area and Germany. 

It might be interesting to learn whether the indicator remains unchanged in Germany because in May it reached its all-time high.

Later in the afternoon, the USA is planning to report on its Trade Balance for April and the NFIB Small Business Index for May.

In the evening, investors’ attention will start switching slowly to the US Consumer Price Index for May to be published on Thursday. This is where it might start being very interesting.