EURO increased slightly waiting for the Fed's move on USD

Currently, investors are waiting for the speech of US Federal Reserve Chairman (Fed) Powell on Thursday to get more clues about the US Central Bank's monetary policy roadmap after the words recent dovishness from Fed officials.

Traders are assessing whether the US central bank may raise interest rates again, in an effort to bring inflation closer to its 2% target.

According to CME Group's FedWatch Tool, Fed funds futures traders are pricing in a 43% chance of another rate hike this year, but only a 12% chance of a rate hike next month.

Currently, investors are quite cautious. The conflict in the Middle East may not have subsided, but there is also the possibility of surprises shaking markets in the coming days and weeks.