The Fed is continuing to print money | 25 June 2021

25 June 2021, EUR/USD

The Fed is continuing to print money

EURUSD trading plan:

Weaker than anticipated readings on jobless claims and durable goods orders kept Treasury yields in a tight range as traders saw little reason for the Federal Reserve to deviate from its plans to raise interest rates in 2023. Initial claims for state unemployment benefits fell 7,000 to a seasonally adjusted 411,000 for the week ended June 19, the Labor Department said. Economists of investment banks had forecast 380,000 applications for the latest week. Benchmark 10-year Treasury yields touched 1.5%, but hovered around 1.49% after Biden's announcement. U.S. President Joe Biden on Thursday embraced a $1.2 trillion bipartisan Senate deal to renew the nation's roads, bridges and highways and help stimulate the economy -- a major breakthrough on one of his key domestic policy goals.

Investment idea: buy 1.1920 and take profit 1.1985.

David Johnson
Analyst of «FreshForex» company
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