19 May 2023, EUR/USD
EURUSD trading plan:
U.S. inflation does not look like it is cooling fast enough to allow the Federal Reserve to hit pause on the interest-rate hike campaign it began more than a year ago, two Fed policymakers said. The remarks, from Dallas Federal Reserve Bank President Lorie Logan and St. Louis Fed President James Bullard, appear to represent a minority hawkish view at the Fed, but one that has gained ground in the runup to the Fed's next meeting, on June 13-14. Fed Governor and vice chair nominee Philip Jefferson, also speaking, said that while progress on inflation is slowing, it is still too early for the full impact of those rapid rate increases to be fully felt. Jefferson did not lay out an explicit case for what the Fed should do in June. However, his embrace of the idea that there is still a lot of policy tightening in the pipeline suggests he could be comfortable with a pause.
Investment idea: range 1.0750 -1.0850.
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