EURUSD – Up
EURUSD trading plan:
The Federal Reserve’s pledge to redouble its inflation-fighting efforts is spooking some investors, who believe it may end up moving too aggressively after moderating its stance a month ago. Some also worry that the Fed’s messaging is becoming erratic as it reacts to successively weak then strong economic data. The Fed risks making a policy mistake if it reacts to recent data with larger rate increases instead of waiting for the impact of higher rates to filter through the economy. Meanwhile, the inversion of the Treasury yield curve has extended to its widest since 1981, as short-term yields have surged above yields on longer-dated debt – a time-honored recession signal.
Investment idea: range 1.0515 – 1.0615.
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