16 April 2021, EUR/USD
EURUSD trading plan:
An increase in bank reserves is putting downward pressure on short-term rates but the Federal Reserve is keeping a close eye on money markets and is prepared to make adjustments as needed, a senior New York Fed official said. As reserves rise, the Fed's facility for overnight repurchase agreements will become a more central part of the central bank's tool kit for controlling short-term rates, said Lorie Logan, an executive vice president at the New York Fed and the manager of the System Open Market Account. "With reserves expected to grow further, we will be monitoring money markets closely and will continue to make adjustments as needed," Logan said. This is a negative signal for the dollar!
Investment idea: buy 1.1955 and take profit 1.2005.
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