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EURO Fundamentals For August 26

August 27, 2020

EURUSD is slightly falling in the middle of the week; investors are tired of waiting for signals.

The major currency pair is falling a little bit on Wednesday; market players are clearly tired of waiting for news. The current quote for the instrument is 1.1820.

The data published by the USA yesterday was rather mixed, as usual recently. The New Home Sales was 901K in July after being 791K in June and against the expected reading of 787K.

The CB Consumer Confidence in the USA dropped to 84.8 points in August after being 91.7 points the month before and against market expectations of 93.0 points.

At the same time, the data from Germany was in favor of the Euro. The Ifo Business Climate expanded up to 92.6 points in July after being 90.4 points in the previous month. The improvement of this indicator shows a positive outlook in the real sector of the economy. The components of the report show that both the current conditions and expectations went up.

Tomorrow, on Thursday, the economic symposium will start in Jackson Hole, the USA, which may bring a lot of news for the USD.

Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading.

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