The Euro is starting to recover. Overview for 23.08.2021

After updating its 10-month lows, EURUSD is looking interesting for market players again. 

EURUSD is recovering after plunging earlier. The current quote for the instrument is 1.1717.

Last week, the major currency pair touched its 10-month lows amid market concerns about another slowdown in the global economy due to the spread of a new delta strain of the COVID-19. Investors were really afraid that a quick spread of this strain would force countries to re-introduce different social restrictions. This, in its turn, might prevent global Central Banks from winding up their stimulus programs. Taken together, these factors raised the demand for the “greenback” as a “safe haven” asset.

This week is going to be interesting and offer a lot of statistics from the USA and the Euro Area. Among other things, market players should pay attention to the ECB Monetary Policy Meeting Accounts. 

The USA is going to attract attention by publishing the GDP report for the second quarter of 2021, which may show a slight improvement. It happens all the time when the indicator is revised. 
In addition to that, the US Federal Reserve System is scheduled to have a symposium in Jackson Hole. The event is expected to be online but face-to-face offline meetings are also possible. However, the format of this event doesn’t imply any important decisions – more often it offers exchanges of ideas about the current situation and immediate forecasts. 

Still, for currency investors, these comments may become the driver that can increase market fluctuations.