The Euro is trying to reach stability. Overview for 21.06.2021

EURUSD is making a feeble attempt to reach stability after plummeting. 

The major currency pair is in the black, just a little bit. The current quote for the instrument is 1.1870.

So, the “greenback” remains strong despite investors’ attempts to balance the situation. The reason for this is the message received by financial markets after the Fed’s June meeting: the regulator may be planning two rate hikes earlier than expected. 

Last Friday, this optimism was boosted by St. Louis Federal Reserve Bank President James Bullard, who told the media that the changes in the regulator’s tone in assessing its monetary policy was quite a natural response to the economic growth and inflation boost in the country. These factors. In their turn, are directly connected to the fact that the country has been recovering after the coronavirus pandemic and slowly removing different social restrictions. 

Some experts even started comparing this situation with 2013, when the Fed announced a decline in the QE program. However, it’s not the same as the current global situation is completely different. 

This week, the USA is going to report on the GDP for the first quarter of 2021, as well as the Personal Spending/Income. Another interesting thing to be published is the Durable Goods Orders. 

However, the primary focus remains on the Fed with its stance on the rates, that’s why the USD is currently doing pretty fine.