The EUR/USD pair on Thursday afternoon is trading on the upside, as investors are taking long term positions. The euro/dollar on Thursday is trading on the upside, the main movement is now held around the 1.1300 mark. While fans of the euro are being positive - ahead is the publication of the minutes of the previous meeting of the Federal Reserve System, and the evening will be stormy. Meanwhile, the mood is quite positive.
This morning Germany released data on the trade balance in August. The index was 22.5 billion euro, and the balance of payments is estimated at 12.3 billion euro. This news is sufficiently neutral for the currency market.
Returning to the publication of "minutes" of the Fed, it is worth noting again that investors will be looking for hints in the document at the time of the rate increase. Earlier in September, Janet Yellen, the head of the Federal Reserve, said that the interest rate will be raised before the end of this year. Capital markets would like specifics. With everything else, yesterday the International Monetary Fund noted that almost all conditions have met for a rate hike in the United States. According to representatives of the Fund, the index should grow slowly and gradually entering the cycle. However, this will not lower the risks for emerging economies.
The rate increase, although inherent in general market expectations, will provoke volatility in the currency market, which will strongly hit emerging market currencies - rubles, pesos, rupees.