EURUSD – Up
EURUSD trading plan:
Many market participants believe that recent data including this week’s surprise increase in consumer prices in August is likely to give the U.S. central bank enough reason to announce a third consecutive 75-basis-point rate hike next Wednesday. And applications for unemployment insurance dropped for the fifth straight week, suggesting demand for workers remains healthy. The data illustrate the many economic cross currents the Federal Reserve is navigating as it attempts a soft landing for the economy while pressing harder on the monetary policy brakes to stamp out the fastest inflation in a generation. Worries of a gas crisis in Europe due to the war have seen the bloc’s leaders scramble to introduce support measures for companies and citizens.
Investment idea: sell 1.0025 and take profit 0.9930.
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