31 August 2021, EUR/USD
EURUSD trading plan:
Germany's annual consumer price inflation accelerated to a fresh 13-year high in August. Consumer prices, harmonised to make them comparable with inflation data from other European Union countries, rose 3.4% compared with 3.1% in July, preliminary figures from the Federal Statistics Office showed. Recent hikes in producer and import prices could be an early indication that increased inflation rates will ultimately be more persistent at the consumer level than previously thought. In this case, the debate within the European Central Bank, which is currently still primarily centered on the risk of low inflation, could take on a new direction. German central bank Chief Jens Weidmann has said he is worried about the prospect of the ECB's low-interest-rate environment being extended for too long.
Investment idea: buy 1.1800 and take profit 1.1845.
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