EURUSD – Up
EURUSD trading plan:
Banks are becoming the leading buyers of some euro zone governments‘ bond sales, taking advantage of surging interest rates as the European Central Bank looks to reduce its presence in the market. Euro zone governments need private buyers to pick up some 400 billion euros of additional debt this year. Funding needs remain high, while the ECB, a huge buyer in recent years, will soon start reducing the bonds it holds on its 8 trillion-euro balance sheet as it tightens monetary policy to contain inflation.
Investment idea: buy 1.0577 and take profit 1.0650.
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