EURUSD started a correction. Overview for 23.08.2018
On Thursday afternoon, the major currency pair is trading downwards; the FOMC Meeting Minutes report supported the American currency.
EURUSD is falling on Thursday after some significant rally earlier. The current quote for the instrument is 1.1556.
In some way, the USD was supported by the FOMC Meeting Minutes report, which was published yesterday. The report says that the regulator is going to increase the key rate in the nearest future. Investors are expecting the Federal Reserve to raise the rate twice before the end of 2018, in September and December.
The Jackson Hole Symposium is set to start today, which will feature the Federal Reserve Chairman Jerome Powell. Possibly, during his speech he may provide some clues at future moves of the regulator to tighten its monetary policy.
The statistics published by the Euro Area in the afternoon turned out to be rather mixed. The preliminary Services PMI report showed 54.4 pints in August, the same as expected, after being 54.2 points in July. The same indicator for Manufacturing dropped from 55.1 points to 54.6 points.
Later in the afternoon, one should also pay attention to the ECB Monetary Policy Meeting Accounts report.
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