30 January 2023, EUR/USD
EURUSD trading plan:
US short- and long-term inflation expectations improved at the end of January, helping to once again boost consumer sentiment. Respondents said they expect prices to advance 3.9% over the next year, the lowest since April 2021, the University of Michigan’s final survey reading showed. The sentiment index climbed to 64.9 from earlier in the month, still the highest in nine months. Consumers expect inflation to rise 2.9% over the next five to 10 years, down slightly from the preliminary reading. The Federal Reserve watches long-term views especially closely, as expectations can become self-fulfilling and lead to higher prices. This is a negative signal for the dollar.
Investment idea: buy 1.0852 and take profit 1.0928.
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