EURUSD – Up
EURUSD trading plan:
It is time for the Federal Reserve to shift to smaller interest rate hikes to avoid tightening monetary policy more than needed, and slow the pace further once risks become more „two-sided,“ Chicago Fed President Charles Evans said. „From here on out, I don’t think it’s front-loading anymore, I think it’s looking for the right level of restrictiveness,“ Evans told, referring to the U.S. central bank’s string of supersized rate hikes. Evans said he supported this week’s move, and also expects the Fed to eventually need to raise its benchmark overnight interest rate „slightly higher“ than the 4.50%-4.75% range he and many of his fellow policymakers had previously thought would mark the peak of the current tightening cycle.
Investment idea: buy 0.9910 and take profit 1.0010.
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