EURUSD – Up
EURUSD trading plan:
The U.S. is rapidly approaching the deadline for Congress to pass a deal, reached over the weekend by Democratic President Joe Biden and top congressional Republican Kevin McCarthy, to suspend the government’s $31.4 trillion debt ceiling or risk a catastrophic default. Washington regularly sets a limit on federal borrowing. Currently, the ceiling is roughly equal to 120% of the country’s annual economic output. The debt reached that ceiling in January and the Treasury Department has kept obligations just within the limit by suspending investments in some federal pension funds while continuing to borrow from investors. Republicans, who hold a narrow 222-213 majority in the House of Representatives, in late April passed a bill that would raise the debt limit but also set in place sweeping spending cuts over the next decade.
Investment idea: range 1.0665 – 1.0771.
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