The major currency pair is volatile at the beginning of the week, but investors remain cautious.
EURUSD is barely moving on Monday evening, but the daily range is still rather wide. The current quote for the instrument is 1.1620.
Last Friday, during the Jackson Hole symposium, the US Federal Reserve Chairman Jerome Powell stuck up for the current monetary policy strategy. Earlier last week, the strategy was criticized by the US President Donald Trump, but Powell held his own. We’ve already said before that Powell was approved and assigned by Trump personally and, in fact, he pursues the same policy as his predecessor, Janet Yellen. Since Powell became the Chairman, the US monetary policy hasn’t been significantly changed, that’s why criticizing him and the Federal Reserve is nothing but statement of facts.
Today, there are no significant macroeconomic statistics, which can make traded currencies move more actively. The report from the Germany, the Ifo Business Climate, showed 103.8 points in August after being 101.7 points in the month before and against the expected reading of 101.9 points. The report went unnoticed.
There will be some interesting numbers this week, such as the revised report of the US GDP in the second quarter 2018. Also, investors should pau attention to speeches to be delivered by central bank representatives. So far, they prefer to “save strengths”.