The Euro is in the “black” again. Overview for 10.06.2020

EURUSD continues trading upwards and forming the rising impulse in anticipation of the US Federal Reserve meeting. 

The major currency keeps the positive momentum and remains in the “black” on Wednesday afternoon. The current quote for the instrument is 1.1350.

The two-day meeting of the US Federal Reserve is scheduled to be over today. The key interest rate is highly likely to remain unchanged at 0-0.25%. The meeting might as well be rather unremarkable and mean almost nothing – the American regulator took a lot of stimulus measures in good time. now it’s time to wait and see the effect.

It will be very interesting to hear what the Fed Chairman Jerome Powell has to say. Most likely, he will tell the media and investors that the American labor market has reached stability (the statistics confirm it) and announce that the country’s economy is not as stressful as it was not long ago. 

The statistics published yesterday showed that the NFIB Small Business Index in the USA was 94.4 points in May after showing 90.9 points in April. It’s an extremely good signal – the economy will recover much faster based on small business. 

Apart from the FRS, later in the evening, investors may pay attention to the data on inflation in May. The CPI is expected to show 0.0% m/m in May after being -0.8% m/m the month before. The Core CPI may also remain at zero. No declines – it’s another positive factor.