12 August 2021, EUR/USD
EURUSD trading plan:
Kansas City Fed President Esther George said the standard for reducing the bond-buying program may have already been met by the current spike in inflation, recent labor market improvements and the expectation for continued strong demand. “I support bringing asset purchases to an end under these conditions,” George said during a virtual seminar organized by the National Association for Business Economics. Dallas Fed President Robert Kaplan, in an interview with CNBC, said the U.S. central bank should announce its timeline for beginning to reduce its massive bond purchases next month and start tapering them in October. This is a positive signal for the dollar. An uptrend in the oil market will have a positive impact on the value of the euro, since assets are correlated with each other. OPEC+, consisting of the cartel and allies including Russia, agreed in July to boost output each month by 400,000 barrels per day over the previous month, starting in August, until the rest of their output cuts are phased out.
Investment idea: range 1.1710 -1.1790.
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