After being sold earlier, EURUSD managed to recover; the “greenback” is under pressure again.
The major currency pair was rather indistinct early in the week but managed to recover by Monday afternoon. The current quote for the instrument is 1.2215.
The USD owed its local growth to the strong statistics on the PMIs in the USA. According to the IHS Markit, the indicators boosted in May and may demonstrate the highest levels since October 2009.
In addition to that, the “greenback” was also supported by the US 10-year bond yield. However, despite the fact that the indicator continues rising on Monday, investors already turned their back on the American currency.
The latest FOMC Meeting Minutes published last week leave out the possibility of stimulus program volume reduction but only after the country’s economy reaches its targets. That smoothed market sentiments a little bit, which were rather complicated after inflation concerns.
Today is a day off in Germany and France, that’s why trading floors might not be too active.
Later in the evening, several FOMC members are scheduled to speak. Possibly, they may talk about the current estimate of the country’s economy and outlook for the nearest future. The regulator is very unlikely to explain over and over again its stance on continuing to support the economy as long as it requires.