EUR/USD today: maintains a lateral dynamics

After the publication of data on business activity in the eurozone, which provided significant support to the euro, the EUR/USD pair failed to develop an upward trend, limiting itself to a weekly lateral trend. The expectation of the publication of the ECB protocol and the results of the Jackson Hole symposium remain the limiting factors for the pair and the market in general.

Events for today:

• 14:30 – the publication of the ECB monetary policy meeting minutes.
• 15:30 – the number of initial jobless claims in the US will be released.
• 16:45 – data on business activity in the manufacturing sector (PMI) (Aug) USA will be published.

One of the main events of the coming days remains the Jackson Hole symposium, where a series of speeches by the US Federal Reserve representatives are expected, due to which the growth of volatility in the US dollar is expected.

The EUR/USD pair, after updating the high on the publication of strong data on business activity in the eurozone, rebounded from resistance 1.1110, which confirmed keeping the side channel from 1.1110-20 to 1.1070-80. The pair formed a downward signal in the form of a “pinbar”. The main driver of the market will continue to be market sentiment, which focuses on the ECB protocol and the Jackson Hole Symposium.

Read also: “What is interesting about the US Fed meeting in the April,
and how it can affect the world banks policy”

Hanzenko Anton

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Earn with the help of the trade service on the news Erste News!

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