The Euro is trying to keep its positive momentum. Overview for 30.08.2021

EURUSD may continue forming its rising impulse. 

The major currency remains stable and may resume trading upwards. The current quote for the instrument is 1.1800.

During his speech at the Jackson Hole symposium last week, Jerome Powell, the chairman of the US Federal Reserve System, said that the regulator didn’t exclude a possibility of an earlier reduction of its QE program before the end of the year. At the same time, Powell mentioned that there was no need in tightening the monetary policy at that moment. The inflation boost was believed to be temporary. 

The QE reduction is good but market players included this factor in prices a long time ago. On the other hand, no one expected a possibility of refusal of the policy tightening. The “greenback” plunged and investors will surely need some time to include this fact in prices. 

There won’t be many statistics from the USA and the Euro Area today. in this light, the Jackson Hole symposium results will remain the key driver for a while.

However, as early as Tuesday, the macroeconomic calendar will offer a lot of data, such as the CPI Flash Estimate for August in the Euro Area, as well as the HPI for June and the CB Consumer Confidence for August in the USA.