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Inflation will be negative

Inflation will be negative | 30 November 2020

30 November 2020, EUR/USD

EURUSD trading plan:

The European Central Bank expects prices in the euro zone to keep falling this year and rebound more slowly in 2021 than it previously thought even as the prospect of a coronavirus vaccine boosts the growth outlook, ECB vice president Luis de Guindos said. "Inflation will be negative until the end of the year and we expect that it will turn positive next year," de Guindos told newspaper Helsingin Sanomat. "All in all, we expect inflation to be close to 1% in 2021 and to see it moving up towards 1.2% or 1.3% in 2022." This is a negative signal for the European currency!

Investment idea: Sell 1.1980 and take profit 1.1950.

David Johnson
Analyst of «FreshForex» company
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