EURUSD – Up
EURUSD trading plan:
US stocks stormed back from losses sparked by a hot inflation reading on speculation the yearlong selloff had potentially reached a bottom. There has likely been a fair amount of defensive positioning lately in equities and on the rates side, higher policy rates mean higher probability of a hard landing. Core prices, which strip out food and energy, rose 6.6% in September from a year ago, the highest level since 1982, according to a Labor Department report published earlier. That continues a worrying pattern for policymakers after the gauge accelerated in August as well. The Treasury curve flattened, with the yield on policy-sensitive two-year notes rising above 4.47%
Investment idea: buy 0.9761 and take profit 0.9825.
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