07 July 2023, EUR/USD
EURUSD trading plan:
The U.S. services sector grew faster than expected in June as new orders picked up, but a measure of prices paid by businesses for inputs fell to more than a three-year low, suggesting that the closely watched services inflation would continue to cool. The Institute for Supply Management said that its non-manufacturing PMI increased to 53.9 last month from 50.3 in May. A reading above 50 indicates growth in the services industry, which accounts for more than two-thirds of the economy. The survey is among several indicators, including housing starts, nonfarm payrolls and orders for long-lasting manufactured goods, that have suggested the economy continues to plod along despite growing risks sparked by hefty interest rate increases from the Federal Reserve.
Investment idea: sell 1.0905 and take profit 1.0833.
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