EURUSD found support and is consolidating while waiting for news.
The major currency pair is looking stable on Tuesday. The current quote for the instrument is 1.1811.
Market players are back to thinking about a possible early reduction of the stimulus by the US Federal Reserve despite the increasing number of new coronavirus cases. This prevents the “greenback” from falling – the reduction of the QE program one way or another supports the USD and means that the regulator may start slowly tightening its monetary policy.
This week, the USA will publish a lot of statistics that investors may find very interesting.
Today, there will be a report on inflation for August, which is expected to show 0.3% m/m, the same as in July. The Core CPI may show 0.4% m/m after being 0.5% m/m the month before. On YoY, indicators must be quite significant.
Later this week, the USA will report on the Industrial Production and the Retail Sales for August. All these reports are very important and the Fed may build on them when making different decisions. It means that investors should be ready that the market may become more volatile.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.