EURUSD skyrocketed. Overview for 21.11.2023

On Tuesday, the primary currency pair is reaching new local peaks. The current EURUSD exchange rate stands at 1.0960.

The catalyst remains the same – investors remain confident that the US Federal Reserve's interest rate has reached its peak. Earlier, the market received confirming evidence from weak macroeconomic statistics.

With no new statistics released, investors have sufficient time to fully factor this driver into the quotes.

Today, the US will publish existing home sales data for October. The indicator is expected to decrease slightly. Additionally, the Federal Reserve will release the minutes of its last meeting. These are noteworthy because the market traditionally looks for indications of the regulator's future steps in these documents.