13 December 2021, EUR/USD
EURUSD trading plan:
U.S. consumer prices rose solidly in November as Americans paid more for food and a range goods, leading to the largest annual gain since 1982. The price of food consumed at home gained 6.4% over the past 12 months, the most since December 2008. With supply bottlenecks showing little sign of easing and companies raising wages as they compete for scarce workers, high inflation could persist well into 2022. Biden acknowledged the increased burden on household budgets from the high inflation, while trying to reassure Americans that the country was pushing ahead with efforts to ease supply bottlenecks. The Fed has little choice but to accelerate tapering and prepare for the possibility of much earlier rate hikes than it was planning just a few months ago. This is a positive signal for the dollar.
Investment idea: sell 1.1318 and take profit 1.1272.
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