The EUR/USD pair is showing a decline as market participants eagerly anticipate the release of the Federal Reserve minutes.
On Wednesday, the major currency pair is experiencing a slight retreat with low volatility, primarily due to the anticipation surrounding the Fed minutes. The current quote for EUR/USD stands at 1.0880. Over the past two days, the currency market has remained calm and uneventful. Monday witnessed a shortened business day in the US, followed by Tuesday's public holiday in celebration of Independence Day. Additionally, the macroeconomic calendar for Europe has been relatively empty. Investors have been trading within a narrow range, conserving their energy for potential future market movements.
Today, their accumulated strength will prove valuable as the US Federal Reserve unveils the minutes of its June meeting. Market participants will eagerly search for hints regarding the central bank's future monetary policy steps. During the previous meeting, the Fed decided to maintain unchanged interest rates. However, this pause is expected to be short-lived, with an anticipated 25 basis points increase in the cost of credit at the July meeting. The Fed remains committed to combating inflation, particularly as core prices require attention.