The euro/dollar pair has stabilized. Overview for 02.08.2021

The euro/dollar pair is slightly declining at the beginning of the week. The current EURUSD quotation is 1.1870.

The dollar remained under the negative influence of the comments made by the Fed's head Jerome Powell until Friday when the US statistics were published. They smoothed things out a bit. For example, personal expenses of Americans in July grew by 1℅ m/m against the forecast 0.7% m/m. Last month the index dropped by 0.1% m/m. Their income, in turn, grew by 0.1% m/m after a slump by 2.2% in June.

High speed of the anti-coronavirus vaccination campaign in the USA makes the number of consumers grow, including on holidays and vacation, which means people start spending more on traveling. This is good news. Further support for the dollar was given by the final CCI values by University of Michigan in July. They reached 81.2 points against 80.8 points previously.

The new week promises to be quite active in terms of macroeconomic statistics. The main attention is focused on the US employment market in July, especially after Powell commented that there were some obstacles to come over.