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The Euro requires support


7 September 2021

EURUSD is keeping balance; investors are saving strengths in anticipation of the news. The major currency pair is stable on Tuesday – there is no important news, so market players are rather bored. The current quote for the instrument is 1.1876. The statistics published yesterday neither inspired investors nor made them disappointed. The Sentix Investor Confidence in the Euro Area showed 19.6 points in September after being 22.2 points in the previous month and against the expected reading of 18.3 points. Considering that the final estimate turned out to the better than expected, one can say that the report was rather neutral. 

In the afternoon, the Euro Area and Germany are scheduled to report on the ZEW Economic Sentiment in September. If the data is close to the August value, the European currency may get short-term support. In addition to that, the Euro Area will publish one more estimate of its GDP for the second quarter of 2021. The first estimate showed 2.0% q/q but the second one is not expected to offer any surprises.  

The USA is not on today’s economic calendar as the country is celebrating Labour day, so no statistics are expected from there. The major currency pair may continue being rather neutral until Thursday when the European Central Bank is going to have another session.

#source

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