EURUSD slowed down its rising correction and is waiting for the news.
The major currency pair significantly corrected yesterday and is trying to save strengths today in anticipation of the news. The current quote for the instrument is 1.1680.
In the meantime, the USD is still attractive for market players because the number of new coronavirus cases is increasing and may lead to other quarantine restrictions soon. In this light, investors’ demand for “safe haven” assets is as high as it was in spring.
The Euro Area won’t publish any significant or important statistics today but the USA has something to offer. Americans are scheduled to reveal preliminary reports on the Wholesale Inventories and Goods Trade Balance in August. Also, one should pay attention to the Consumer Confidence from the Conference Board, which is expected to improve up to 90.0 points in September after being 84.8 the month before.
There will be a lot of speeches on American policymakers and FOMC Members, such as Williams, Harker, Clarida, Williams, and Quarles. Their comments about coronavirus-related risks and economic outlook may force a new wave of the demand for the “greenback”.
Also, the first election debates start in the USA, which may become another catalyst for movements of financial markets if some of the comments are rather harsh.
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.