The main currency pair got stabilized after the Eurozone published rather positive statistics.
The EUR/USD pair is “in the black” after the Eurozone reported on several macroeconomic indicators. In the evening, the USA are also expected to publish some numbers, but until then Investors have a lot of reasons to “buy out” their previous sales. The current quo0te for the instrument is 1.1786.
According to the pre-estimate, the Markit Services PMI in the Eurozone was 54.9 points in August after being 55.4 points the month before. The Markit Manufacturing PMI increased from 56.6 pints in July to 57.4 points in August. The August reading of the Markit Services PMI in Germany was 53.4 points (53.1 points in the previous month). The same indicator in France was 55.5 points after being 56.0 points the month before. The Markit Manufacturing PMI was 59.4 points in Germany (better than before) and 55.8 points in France (better than before).
This morning, Mario Draghi, the ECB Governor, delivered a speech, but there is no any information about his comments so far. However, his appearance at the meeting in Jackson Hole, the USA, seems to be more interesting. The meeting is set to open on Thursday.
Draghi is expected to talk about fiscal and economic issues in general and avoid anything that concerns the future monetary actions of the European regulator. If his speech goes smoothly, the EUR/USD pair may rise.
RoboForex Analytical Department