EURUSD is slightly higher. Overview for 20.05.2024

The primary currency pair looks lively on Monday. The current EURUSD exchange rate stands at 1.0880.

This morning, the exchange rate touched 1.0895, marking a two-month peak tested last week.

The market will soon mainly focus on the core PCE data, a key inflation indicator used by the Federal Reserve to gauge price pressure. This data will be released on 31 May. The market believes that the Fed will not have all the necessary statistics for its next meeting and will, therefore, not make crucial decisions in June or July.

Federal Reserve Chair Jerome Powell might use his speech at the Jackson Hole Economic Symposium in August to present his stance regarding the September meeting.

Investors will focus this week on the publication of the Federal Reserve’s latest meeting minutes and the eurozone's current PMI data.