EURUSD started consolidating. Overview for 22.04.2021

EURUSD is consolidating after updating its local highs. 

The major currency is not too active on Thursday. The current quote for the instrument is 1.2029.

The USD got some support after investors revived their interest in “safe haven” assets following the news about the increasing numbers of new coronavirus cases in India and Japan. In addition to that, the Bank of Canada signaled its decision to increase its rates in 2022, which also make market players worry.

Later today, the European Central Bank is scheduled to have another meeting, which is widely expected by the financial world. It’s very important to hear what ECB Governor Christine Lagarde has to say. Interest rates are highly likely to remain intact. 

Also, investors are starting to prepare for the US Fed meeting scheduled for the next week, although none of its monetary policy aspects are expected to change.

In the evening, the Euro Area is planning to report on the Consumer Confidence, which may remain unchanged at -11 points in April. 

Moreover, the USA will report on the Existing Home Sales, which may show 6.18M in March after being 6.22M in the previous month. Another report to be published is the CB Leading Index for March, which may add 1.0% m/m.