11 August 2023, EUR/USD
EURUSD trading plan:
U.S. consumer prices increased moderately in July as higher rents were mostly offset by declining costs of goods such as motor vehicles and furniture, a trend that could persuade the Federal Reserve to leave interest rates unchanged next month. The consumer price index rose 0.2% last month, matching the gain in June. Shelter accounted for more than 90% of the increase in the CPI, with rental costs increasing 0.4%. Food prices gained 0.2%. Grocery food prices increased 0.3% after being unchanged in June. They were boosted by higher prices for eggs, beef, dairy as well as fruit and vegetables. Still, grocery store prices have slowed considerably, increasing 3.6% on a year-on-year basis in July after peaking at 13.5% in August 2022.
Investment idea: sell 1.1014 and take profit 1.0925.
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