03 July 2023, EUR/USD
EURUSD trading plan:
Eurozone inflation is proving "stickier", meaning the decision on when to stop raising interest rates is not straightforward, European Central Bank governing council member Gabriel Makhlouf was quoted as saying. "We've seen a greater persistence in inflation – it's stickier. We're making these decisions meeting by meeting and looking at the data and what's happening to inflation dynamics. My view is that we're near the top of the ladder," Makhlouf told. The ECB has raised rates at each meeting over the past year, taking its deposit rate to 3.5%, and promised more tightening as soon as July as it attempts to curb inflation still running at three times its 2% target. Euro zone inflation has entered a new phase which could linger for some time, European Central Bank President Christine Lagarde said, outlining a lengthy fight against price growth that must dampen demand and force firms to curb prices.
Investment idea: range 1.0860 -1.0960.
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