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EUR/USD has rebounded following a decline.

The major currency pair showed resilience on Thursday, with the current EUR/USD exchange rate at 1.0920.

US economic statistics released yesterday painted a pessimistic picture, reflecting the challenges posed by high-interest rates. The market interpreted this data as a potential signal of the Federal Reserve reconsidering its plans to raise interest rates. Overall, the main driver in the market is speculation surrounding interest rates.

In Q2, US GDP increased by 2.1%, falling short of the expected 2.4% growth. This follows a 2.0% expansion in Q1.

August saw the US private sector add just 177 thousand jobs, falling short of expectations. The previous month, this indicator had shown an increase of 371 thousand jobs.

While ADP statistics don't directly correlate with the non-farm payrolls report due on Friday, they provide a general sense of the employment landscape.

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The post Euro/Dollar Makes a Comeback - Overview for August 31, 2023 appeared first at R Blog - RoboForex.

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By: Anna Rostova
Title: Euro/Dollar Makes a Comeback - Overview for August 31, 2023
Sourced From: blog.roboforex.com/blog/2023/08/31/euro-dollar-makes-a-comeback-overview-for-august-31-2023/
Published Date: Thu, 31 Aug 2023 08:55:20 +0000

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