The Federal Reserve speeds up its quantitative tightening, and this is certainly bullish news for the USD. At the same time, this is a negative factor for the American stocks, which have entered their seasonally worst month.
EUR/USD: forecast for August 7-11
Data confirmed that the euro area’s economy expanded by 0.6% in the second quarter – an indication that the region’s economic recovery is becoming sustainable. Other figures from the area have also been bright so far. The expectations that the European Central Bank will announce reduction in its quantitative easing program in autumn are getting stronger and stronger.
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