EURUSD found support. Overview for 30.08.2022
EURUSD got very close to parity again.
The major currency pair recovered a little bit after plunging earlier this week. The current quote for the instrument is 0.9984.
The key negative vibe for EURUSD was the speech delivered by US Fed Chair Jerome Powell at the economic symposium in Jackson Hole. Powell said that the top priority in the regulator’s monetary policy was fighting inflation, and that the Fed was planning to raise interest rates until it took control of prices.
He also mentioned that the US labour market might get a bit worse, but it’s just a side effect of the global decision. In addition to that, things might get worse for households.
At the same time, Powell provided no hints at the regulator’s activities during its September meeting. Investors found themselves in confusion: on one hand, there are no ample reasons for a 75-point rate hike; however, on the other hand, the Fed made a decision to continue its aggressive monetary policy and nothing seems to stop it.
Later today, market players should pay attention to the US HPI in June. Still, today’s highlight might be the Conference Board Consumer Confidence for August, which might go from 95.7 points in July to 97.6 points this month.
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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