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America does not default on its debt

America does not default on its debt | 17 May 2023

17 May 2023, EUR/USD

America does not default on its debt

EURUSD trading plan:

Democratic President Joe Biden and top congressional Republican Kevin McCarthy edged closer to a deal to avoid a looming U.S. debt default. After an hour of talks, McCarthy, the speaker of the House of Representatives, told reporters the two sides remained far apart on an agreement to lift the debt ceiling. But he said, "It is possible to get a deal by the end of the week. It's not that difficult to get to an agreement." Democrats were not as positive about a quick time frame, but the White House called the meetings "productive and direct." Biden said the leaders reached "an overwhelming consensus, that defaulting on the debt is simply not an option. Our economy would fall into recession."

Investment idea: buy 1.0817 and take profit 1.0885.

David Johnson
Analyst of «FreshForex» company
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