13 July 2023, EUR/USD
EURUSD trading plan:
A year after U.S. inflation peaked and touched off an aggressive turn in monetary policy, Federal Reserve officials may be opening a more encouraging chapter in their policy discussion with the first of what analysts expect to be a run of data showing key price measures in steady decline. The U.S. Labor Department reported the consumer price index rose at an annual rate of 3% in June. A separate measure of underlying inflation, stripped of items like energy and food that are tied to world commodity markets, eased to 4.8% from 5.3% in May, with the drop being the largest in more than three years. It may be just the start of what economists are beginning to frame as a more durable "disinflation" as the impact of the U.S. central bank's policy tightening over the last year begins to show itself in slower hiring and weaker demand.
Investment idea: buy 1.1120 and take profit 1.1180.
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