EURUSD is barely moving. Overview for 30.07.2020

The major currency pair is slightly correcting on Thursday morning without any particular direction. 

EURUSD got everything it needed and started consolidating. The current quote for the instrument is 1.1754.

Yesterday, the US Federal Reserve finished its meeting. The interest rate remained unchanged at zero and the regulator reminded that it was ready to implement all available tools and mechanisms to continue supporting the country’s economy in its recovery. 

According to Fed Chairman Jerome Powell, some of the consumer spending indicators decreased since the end of June and that’s not a good signal. Powell said that the unemployment was clearly rising among particular groups of the working-age population, such as women, Afro-Americans, Latin Americans, and employees in a low-income bracket 

At the moment, according to the Fed’s estimations, investments in fixed capitals of companies and enterprises didn’t show significant improvements. 

Powell said that the future monetary policy would depend on activities on all levels of the country’s government. 

Investors weren’t surprised or happy with the results of the meeting because they are absolutely neutral. Over the last several months, market players got used to volatility, constant changes in directions, and verbal interventions – none of them happened this time, that’s why financial markets are consolidating, mostly from sheer boredom.