The EUR/USD pair is in a consolidation phase as it anticipates upcoming developments.
This Wednesday, the main currency pair appears neutral. The present EUR/USD exchange rate is at 1.0910.
US existing home sales data for October disappointed, falling from 3.95 million to 3.79 million homes.
In the recently released minutes from the last US Federal Reserve meeting, concerns were voiced about potential inflation acceleration amid robust economic growth. Simultaneously, committee members agreed on the importance of maintaining a cautious approach to credit and monetary policy, providing support for the USD stance.
Today, being the most eventful day of the week for macroeconomic releases due to Thanksgiving on Thursday and Black Friday, investors will be focusing on key events.
Particular attention should be given to durable goods orders volume statistics, especially specific components within this report. Additionally, the November report on the University of Michigan’s consumer confidence index will be published. In both cases, expectations are leaning towards a deterioration in the data.
The post EUR/USD Shows Modest Retreat: Overview for November 22, 2023 appeared first at R Blog – RoboForex.