12 April 2021, EUR/USD
EURUSD trading plan:
The European Central Bank should accept no further delay in lifting inflation back to its target as the current outlook is unsatisfactory and persistent miss’s risk damaging the economy, ECB board member Fabio Panetta told. The ECB ramped up stimulus last month but still only sees inflation rising to 1.4% by 2023, a level Panetta called unsatisfactory. With vaccinations picking up pace, some policymakers are already making the case for curbing emergency bond purchases from the third quarter onwards but Panetta cautioned, arguing that a prudent approach in such a crisis is injecting too much stimulus rather than too little. Panetta even called on European governments to ramp up fiscal support warning that the bloc’s economy likely suffered more damage from the pandemic than currently visible. This is a positive signal for the euro!
Investment idea: buy 1.1870 and take profit 1.1940.
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