29 April 2022, EUR/USD
EURUSD trading plan:
German annual inflation rose slightly more than expected in April. Consumer prices, harmonized to make them comparable with inflation data from other European Union countries, rose 7.8% on the year after 7.6% in March, the Federal Statistics Office said. This is a negative signal for the European currency. U.S. gross domestic product fell at a 1.4% annualized rate last quarter, the government said in its advance GDP estimate. Exports tumbled, leading to a sharp widening of the trade deficit, which chopped 3.20 percentage points from GDP growth, the most since the third quarter of 2020. Trade has now been a drag on growth for seven straight quarters. This is a negative signal for the dollar.
Investment idea: range 1.0490 -1.0590.
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