12 December 2022, EUR/USD
EURUSD trading plan:
U.S. producer prices increased a bit more than expected in November, but the underlying trend in inflation is moderating, which could allow the Federal Reserve to slow its pace of interest rate hikes this week. The producer price index for final demand rose 0.3% last month, the Labor Department said. Data for October were revised higher to show the PPI gaining 0.3% instead of 0.2% as previously reported. In the 12 months through November, the PPI increased 7.4% after advancing 8.1% in October. The yield on 10-year Treasury notes rose and was up 9 basis points at 3.59%. The inflation is heading in the right place.
Investment idea: buy 1.0475 and take profit 1.0554.
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