29 March 2023, EUR/USD
EURUSD trading plan:
Americans’ expectations for home price increases over the next year moderated sharply in a new report on the outlook for the housing sector, released by the Federal Reserve Bank of New York. Over the next year, respondents to the central bank survey projected home prices to rise by 2.6%, down sharply from the 7% annual rise they projected in Fed data a year ago. The bank noted the expected increase is the weakest since 2014, when the New York Fed survey began. Forecasts of a weaker housing market compared to a year ago arrive amid a sea change in the economy relative to a year ago. When the New York Fed reported on the outlook for housing via data collected for its Survey of Consumer Expectations a year ago, the central bank was embarking on what has thus far been a historically aggressive campaign of rate rises aimed at lowering very high levels of inflation.
Investment idea: buy 1.0800 and take profit 1.0868.
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