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The Fed might speed up tapering

The Fed might speed up tapering | 08 December 2021

08 December 2021, EUR/USD

EURUSD trading plan:

Last week Fed Chair Jerome Powell said it might be time to stop seeing inflation as transitory and hinted the Fed might speed up tapering. Traders are focused on U.S. CPI data due Friday, with a high print likely to point policy makers towards accelerating the tapering of the Federal Reserve's massive bond buying programme. The two-year yield, which rises with expectations of higher interest rates, was at 0.69%. This is a positive signal for the dollar. British drugmaker GSK said its antibody-based COVID-19 therapy with U.S. partner Vir Biotechnology is effective against all mutations of the new Omicron coronavirus variant. Also, a South African study on Tuesday suggested that booster doses of the COVID-19 vaccine produced by Pfizer Inc and partner BioNTech's could help to fend off infection from Omicron.

Investment idea: sell 1.1315 and take profit 1.1269.

David Johnson
Analyst of «FreshForex» company
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