EURUSD – Up
EURUSD trading plan:
European investment Banks expect another 75-basis point rate hike from the European Central Bank in October, a day after the central bank delivered a supersized interest-rate rise of that size to tame inflation. The ECB promised further hikes, prioritizing the fight against inflation even as the bloc is likely heading towards a winter recession and gas rationing. They noted guidance from ECB chief Christine Lagarde that rates are „far away“ from levels appropriate for getting inflation back to target in a timely fashion and that hikes should be anticipated at the „next several meetings.“ This underscores the ECB’s insensitivity to the growth headwinds and laser focus on bringing inflation down.
Investment idea: buy 1.0125 and take profit 1.0180.
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