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ECB could agree to pause in September

ECB could agree to pause in September | 01 August 2023

01 August 2023, EUR/USD

ECB could agree to pause in September

EURUSD trading plan:

Euro zone inflation fell further in July and most measures of underlying price growth also eased, in a largely comforting sign for the European Central Bank as it considers ending its severe run of interest rate hikes. Consumer prices grew by 5.3% this month versus 5.5% in June, extending a downwards trend that started in the autumn. While this is still a far cry from the ECB's 2% target, the reading may help policymakers argue that inflation in the euro zone is on a clear, albeit gentle, downward path and they can afford to skip raising interest rates at least at their next meeting.

Investment idea: sell 1.1002 and take profit 1.0910.

David Johnson
Analyst of «FreshForex» company
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