A Sense of Equilibrium Returns for EUR/USD
EUR/USD has reclaimed its balance, settling into a steadier state. As of now, the EUR/USD exchange rate holds steady at 1.0910.
With a neutral macroeconomic backdrop and an empty statistics calendar, investors are tempering their expectations regarding this key currency pair.
According to the Commodity Futures Trading Commission (CFTC), the volume of net short positions on the USD increased in the week leading up to August 15. The activation of technical signals could potentially exert more pressure on the USD in the upcoming sessions.
Today, a deluge of statistics is expected. Particular attention should be given to data regarding existing home sales in the secondary housing market in the US for July, as well as the Richmond Manufacturing Index.
The Eurozone will also release information concerning its balance of payments.
In essence, activity within the major currency pair may remain subdued until the middle of the week.
The post EUR/USD Finds Stability – Overview for August 22, 2023 appeared first at R Blog – RoboForex.
