On Tuesday afternoon, the major currency pair stopped falling but is still rather unstable.
EURUSD reached stability after falling on Monday. The current quote for the instrument is 1.1101.
All market players are still focused on trade wars. On the sidelines of the G7 summit, US President Donald Trump said that Chinese officials were trying to resume negotiations. Rumor has it that China want to use diplomatic officials to solve the problem instead of politicians.
It would be good, but the fact that diplomatic officials and economists haven’t been able to handle many tense situations and come to terms after 8 months is pretty alarming. Both parties did a great job in exchanging additional tariffs, slowly destroying all possible “leftovers” of trading relations that they had before.
The economic calendar is rather empty, just like it always is at the end of the month.
Today, investors should pay attention to the statistics on the real estate market. The USA is going to report on the HPI, which is expected to add 0.2% m/m in June, better than the month before (+0.1% m/m). consumers are still active, despite an off-season.
Later, the USA will publish the CB Consumer Confidence for August, which may be a rather unpleasant surprise. Market expectations are 129.3 points after 135.7 points in July. Partly, it may be just a correction after the high reading in the previous month, so before drawing far-reaching conclusions one should check the components of the report.