EURUSD reached stability. Overview for 17.08.2022

EURUSD remains neutral in anticipation of the FOMC Meeting Minutes.

The major currency pair is barely moving on Wednesday. The current quote for the instrument is 1.0163.

Despite getting a lot of information in the last 24 hours, investors aren’t very active. One may assume that they are saving strengths in anticipation of the FOMC Meeting Minutes to be released later today.

Yesterday, the US published a quite good report on Industrial Production in July, which showed 0.6% m/m against the expected reading of 0.3% m/m. Capacity Utilization Rate in July was 80.3% after being 79.9% the month before. 

At the same time, Manufacturing Production gained 0.7% m/m after adding 0.4% m/m in June. 

It’s rather unusual that these parameters are improving at a time of high inflation. Probably, businesses and enterprises believe that high inflation is temporary and are already thinking about the future. 

Apart from the FOMC Meeting Minutes, the US is scheduled to report on Retail Sales in July, which is expected to add 0.1% m/m after gaining 1.0% m/m in June. It will be interesting to see the components of the report. Core Retail Sales might lose 0.1% m/m.

In addition, the Euro Area will release its Q2 GDP report.