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Cooling inflation

Cooling inflation | 13 January 2023

13 January 2023, EUR/USD

Cooling inflation

EURUSD trading plan:

U.S consumer prices fell for the first time in more than 2-1/2 years in December amid declining prices for gasoline and motor vehicles, offering hope that inflation was now on a sustained downward trend, though the labor market remains tight. Americans also got more relief at the supermarket last month, with the report from the Labor Department showing food prices posting their smallest monthly increase since March 2021. But rents remained very high and utilities were more expensive. Cooling inflation could allow the Federal Reserve to further scale back the pace of its interest rate increases next month. The U.S. central bank is engaged in its fastest rate hiking cycle since the 1980s.

Investment idea: buy 1.0820 and take profit 1.0888.

David Johnson
Analyst of «FreshForex» company
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