Forex Forecast: EUR/USD

As fears boosted demand for the Greenback, the EUR/USD pair is trading at its lowest level since November 2020, at 1.1660. The combination is supported by the increased likelihood of US tapering and the proliferation of the coronavirus Delta variant.

• Key Data Releases from EUR during Aug 23-27

This week will begin with preliminary August Market PMI numbers for the EU, expected to mirror the overall negative attitude.

In addition, Germany will issue its Q2 GDP forecast, which is expected to be 1.5 % and the IFO Business Climate and GFK Consumer Confidence reports.

• Key Data Releases in the US during Aug 23-27

The Jackson Hole Symposium, which begins on Thursday, will be the highlight of the week.

The annual conference, which is intended to address significant economic issues that impact economies across the world, generally attracts many central bank leaders and market players to watch the proceedings to learning new information about the future of economic policies.

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