EURUSD took a break. Overview for 23.06.2021

EURUSD slowed down its recovery; investors need more reasons. 

The major currency pair is consolidating and waiting for the news. The current quote for the instrument is 1.1920.

In his speech before Congress, US Federal Reserve Chairman Jerome Powell) said that the country’s economy was demonstrating stable improvements, while inflation was expected to get back to its target level of 2% quite soon. 

Powell believes that the economy owes its successful recovery to the aggressive anti-coronavirus campaign, as well as significant stimulus measures and low rates. As for the CPI surge, Powell is sure it’s temporary and the factors that push it upwards will soon get weaker. 

Among other things, Powell mentioned that the real GDP might show the fastest growth over the last 10 years. 

Theoretically, all this should have boosted the “greenback” in its recovery but it turned out that market players weren’t easy to surprise. 

The statistics from Europe published yesterday were positive. For example, the Consumer Confidence showed -3 points in June after being -5 points in May and supported the Euro.