EURUSD – Up
EURUSD trading plan:
The European Central Bank will raise interest rates as much as needed to bring down core inflation although the pace could possibly slow after the end of the year, ECB policymaker Francois Villeroy de Galhau said. „By the way, this will have a positive effect on banks‘ net income; European banks are hence more solid than feared by some,“ he added. European banks have come under pressure in financial markets in recent days over concerns about the health of Swiss group Credit Suisse. After the ECB raised its main interest rate by 50 basis points in July and 75 in September, Villeroy said it was important for the ECB’s next moves to remain „orderly“. This, he said, meant neither jolting markets nor tightening financial conditions for households and firms too abruptly.
Investment idea: buy 0.9953 and take profit 1.0025.
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