The EUR/USD pair spent everyday consolidating around the 1.1100 figure, as market players were unable to find a reason to move it. Uncertainty ruled, with no material change in the US-China trade situation, and just tiny hopes on a dealt Brexit underpinning the Pound.

Such jitters kept the upside limited for high-yielding assets, preventing the common currency from adding ground against the greenback.

The lack of relevant data released throughout the day added to the generalized quietness

The dollar was unable to advance as July Existing Home Sales resulted in line with the market’s expectations, up by 2.5%, while a certain cautious stance prevailed ahead of the release of the FOMC Minutes. The document gave the greenback a modest lift, despite most policymakers viewed the recent rate cut as part of a mid-cycle adjustment in response to the recent changes in the economic outlook. In general, officials weren’t able to agree on the rate cut, but most of them agreed that forward guidance and QE might not be enough. Somehow, the Fed has hinted more rate cuts coming.

The Jackson Hole Symposium starts this Thursday, although Fed’s head Powell is scheduled to speak next Friday.

During the upcoming sessions, attention will center on the August preliminary PMI for the EU and the US. Manufacturing and services output is expected to have receded further during the month in both economies.

The table below shows historical data for the Euro USD annual data since 2010