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U.S. consumer prices increased solidly

U.S. consumer prices increased solidly | 11 March 2021

11 March 2021, EUR/USD

EURUSD trading plan:

The report from the Labor Department did not change expectations that inflation will push higher and exceed the Federal Reserve's 2% target, a flexible average, by April as declining COVID-19 infections and a faster pace of vaccinations allows the economy to reopen. Inflation is also seen accelerating as price decreases early in the coronavirus pandemic wash out of the calculations. Many economists, including Fed Chair Jerome Powell expect the strength in inflation will not stick beyond the so-called base effects and the reopening of services businesses. In the 12 months through February, the CPI shot up 1.7%, the largest rise since February 2020, after climbing 1.4% in the 12 months through January.

Investment idea: buy 1.1912 and take profit 1.1948.

David Johnson
Analyst of «FreshForex» company
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