01 March 2022, EUR/USD
EURUSD trading plan:
The European Central Bank should hold off on removing any more stimulus for now as the war in Ukraine raises uncertainty and the bank still needs evidence that inflation will not fall back below target, ECB board member Fabio Panetta said. With price pressures building, the ECB was preparing markets for a further curb in stimulus at its March 10 meeting, only for the war in Ukraine to throw those plans into turmoil. Price growth is now more than twice the ECB's target but policymakers disagree on the underlying price pressures, particularly the state of the jobs market. "If we respond to a false signal and react to a rise in inflation that might not be lasting, we could suffocate the recovery," Panetta said. "We should aim to accompany the recovery with a light touch, taking moderate and careful steps."
Investment idea: sell 1.1245 and take profit 1.1190.
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