EURUSD – Up
EURUSD trading plan:
Wages in the eurozone are increasing faster than previously estimated, and the European Central Bank must prevent this from adding to already high inflation in the currency bloc, ECB President Christine Lagarde said. Lagarde added that, at the moment, the ECB’s interest rates must be higher in order to curb inflation. The central bank has to „take the necessary measures“ to lower inflation to 2 percent from its current rate of near 10 percent in the eurozone, she said. „We need to be careful that the domestic causes that we are seeing, which are mainly related to fiscal measures and wage dynamics, do not lead to inflation becoming entrenched,“ Lagarde warned.
Investment idea: buy 1.0640 and take profit 1.0705.
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