08 March 2023, EUR/USD
EURUSD trading plan:
Federal Reserve Chair Jerome Powell said the U.S. central bank's decade-old 2% inflation target has in years past been a key factor in keeping inflation low and holding that target at the current level should help in policymakers' efforts to lower high price pressures. "We think it's really important that we do stick to a 2% inflation target and not consider changing it," Powell said in his semi-annual testimony to the U.S. Senate Banking Committee. The 2% inflation target "really anchors inflation" because "the modern belief is that people's expectations about inflation actually have a real effect on inflation. If you expect inflation to go up 5% then it will," he said.
Investment idea: sell 1.0600 and take profit 1.0511.
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