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EU interest rates are near their high

EU interest rates are near their high | 01 September 2023

01 September 2023, EUR/USD

EU interest rates are near their high

EURUSD trading plan:

The European Central Bank has a range of options at its next interest rate meeting, although interest rates are near their high point and there are signs underlying inflation has peaked, ECB policymaker Francois Villeroy de Galhau said. The bank has hiked rates to a more than two-decade high and debate among rate-setters is beginning to heat up over whether to pause, especially in the face of growing signs of economic weakness. He added that what mattered more was how long interest rates are kept high rather than the actual level they peak at. The ECB has lifted rates from minus 0.5% to 3.75% in just over a year to fight a surge in inflation, which has since begun to recede.

Investment idea: sell 1.0865 and take profit 1.0790.

David Johnson
Analyst of «FreshForex» company
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