EURUSD goes around in circles. Overview for 25.08.2021

EURUSD makes no headway in anticipation of the news. 

The major currency pair remains stable on Wednesday afternoon due to the lack of important statistics and news. The current quote for the instrument is 1.1750.

The data published in the morning by Germany was a little bit disappointing. The Ifo Business Climate showed 99.4 points in August after being 100.7 points in July and against the expected reading of 100.2 points. The indicator has been falling for the second month in a row. 

Possible reasons for that are a growing number ща new coronavirus cases and continuing interruptions in deliveries. 

The Business Expectations dropped from 101.0 to 97.5 points, while the Current Conditions improved up to 101.4 points after being 100.4 points. 

The survey covers over 9 thousand companies from the construction, manufacturing, and services sectors, which means that the result is more or less objective. 

The economic symposium in Jackson Hole, the USA, is starting as early as tomorrow, mostly online, due to the pandemic. However, market players are all fired up as usual – everyone is waiting for what the US Fed has to say.