EUR/USD - Overview for August 21, 2024

The EUR/USD pair has continued to rise and is already testing the level of 1.1140, which we mentioned earlier. However, the remaining working days of this week may hold quite a few surprises. The market's attention is focussed on the minutes of the U.S. Federal Reserve meeting, which are expected to be published soon. Also, traders and investors are waiting for data on unemployment benefit claims, home sales, and purchasing managers' indices. The culmination of the week will be the speech of the Chairman of the U.S. Federal Reserve on Friday. Firstly, market participants should be ready for an increase in volatility and possible changes in market trends. In the case of the publication of strong data or if Chairman Powell of the Federal Reserve is hawkish, the strengthening of the U.S. dollar and, consequently, the decrease of the EUR/USD pair, will become possible.