USD has appreciated in value. What led to this change? Overview for 21.07.2023
The primary currency pair remains at local lows on Friday. The current EURUSD quote is 1.1140.
The stability and strength of the US dollar are attributed to the anticipation of the Federal Reserve's decision to halt its aggressive monetary policy. The jobless claims statistics published yesterday confirmed the stability of the US employment sector. This situation increases the likelihood of keeping interest rates at a high level for a longer period. However, at present, market participants seem inclined to overlook this aspect.
The macroeconomic calendar for today is relatively sparse. Attention should be paid to the economic forecast from the European Commission. However, investors might be holding back on significant actions ahead of the upcoming week, which includes important meetings with the Federal Reserve, the European Central Bank (ECB), and various other regulatory bodies.
Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboMarkets bears no responsibility for trading results based on trading opinions described in these analytical reviews.
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