EURUSD took a break. Overview for 27.09.2021

Early in another week of September, EURUSD is calm without any mood swings. 

The major currency pair remains neutral on Monday. The current quote for the instrument is 1.1689.

A notable risk appetite prevents the “greenback” from continuing its rally, although investors are truly positive towards the USD right now. 

Last weekend, there were elections in Germany, the first ones in 16 years without Angela Merkel being a candidate. The Social Democratic Party, which earlier formed a coalition with the Green Party and the Free Democratic Party, was victorious. There are some frictions in the coalition regarding China and the Russian project called Nord Stream, as well as power supply issues but they can be resolved. 

As for the Euro, the election results are mostly positive because they do not imply any dramatic changes in the country’s political strategy.

The USD is still supported by the Fed’s comments and market expectations that the regulator may reduce its stimulus program as early as November and raise the benchmark interest rate late in 2022 for the first time in a long period. 

Later today, one should pay attention to the American statistics on the Durable Goods Orders for August, which is expected to show 0.7% m/m after being -0.1% m/m the month before. The indicator is extremely volatile, that’s why it will be interesting to view its components. 

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Source: RoboForex


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