13 August 2021, EUR/USD
EURUSD trading plan:
U.S. producer prices increased more than expected in July, the Labor Department said, suggesting inflation could remain high as strong demand fueled by the recovery continues to hurt supply chains. In the 12 months through July, the PPI jumped 7.8%, a record high since the measure was introduced in 2010. The recent pace of price increases has intensified debate at the U.S. Federal Reserve over whether faster action may be needed in dialing back its extraordinary support of the pandemic-hit economy, including beginning to reduce its $120 billion in monthly bond purchases. Fed Chair Jerome Powell has repeatedly said the current burst in inflation is likely temporary but other officials have become increasingly wary price increases will persist above the central bank's 2% inflation target, a flexible average.
Investment idea: range 1.1700 -1.1785.
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