EURUSD – Up
EURUSD trading plan:
U.S consumer prices barely rose in November amid declines in the cost of gasoline and used cars, leading to the smallest annual increase in inflation in nearly a year, which could give the Federal Reserve cover to start scaling back the size of its interest rate increases. In the 12 months through November, the CPI climbed 7.1%. That was the smallest advance since December 2021. Annual inflation is slowing in part as last year’s big increases drop out of the calculation, while Fed tightening is also dampening demand. If the inflation numbers stay where they are, we’re already close to peak tightness for where monetary policy should be. We’re likely one or two more hikes away from where the Fed is aiming.
Investment idea: buy 1.0619 and take profit 1.0711.
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