The Euro is staying near the lows. Overview for 20.08.2021

EURUSD is trying to recover reluctantly but the bearish market is stronger. 

The major currency pair is staying not far from its 10-month lows. The current quote for the instrument is 1.1680.

Yesterday, EURUSD updated another low at 1.1664. Today’s attempts to recover aren’t effective – market players are still sympathetic with the USD.

We remind you that the “greenback” is supported by the US Fed Meeting Minutes published on Wednesday. The document offered investors exactly what they were looking for: it said that the regulator was ready to reduce its QE program before the end of the year. Policymakers still haven’t reached a final decision and the document mentions this as well. 

In the future, market players will probably wait for the Fed to confirm its intentions. It means that every time an FOMC member says something, their announcements will literally “go under the microscope”. 

The weekly Unemployment Claims report showed 348K after being 377K the week before and against the expected reading of 362K. Investors barely paid attention to the data, although it’s quite positive for the USD. 

There won’t be any important American statistics today, that’s why the major currency pair is expected to continue moving within the current range.