EURUSD – Up
EURUSD trading plan:
U.S. nonfarm payrolls increased by 372,000 jobs last month, the Labor department reported. Fed funds futures priced in a more than 90% chance of a 75-bps rate hike this month, with about 187 bps of cumulative tightening by the end of the year. Solid U.S. data, in particular today’s stronger-than-expected payrolls, and continued hawkish rhetoric from FOMC officials reinforced the growing divergence between the increasingly bleak outlook in Europe and the more resilient U.S economy. Traders are forecasting that the year-on-year consumer price index will hit a fresh 40-year high of 8.8% in June.
Investment idea: sell 1.0188 and take profit 1.0100.
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