05 November 2021, EUR/USD
EURUSD trading plan:
Germany’s 10-year government bond yield, the benchmark for the bloc, dropped 6 basis points, hitting a one-month low of -0.23%. Other high-grade euro zone government bond yields also dropped to their lowest level in weeks and Italy, perceived as one of the euro zone countries most sensitive to tightening policy, saw its 10-year bond yield drop 11 bps to 0.937%. ECB chief Christine Lagarde moved to calm markets by saying rate hikes were unlikely in 2022, and this has anchored yields to an extent across the bloc. This is a negative signal for the European currency.
Investment idea: sell 1.1577 and take profit 1.1525.
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