30 March 2023, EUR/USD
EURUSD trading plan:
Underlying inflation in the euro zone is proving sticky and the recent fall in energy costs may not pull it down as fast as some expect, European Central Bank board member Isabel Schnabel said, highlighting the bank's chief concern. Overall inflation in the 20 nations sharing the euro currency is falling quickly but core prices, which exclude volatile fuel and food costs, is still rising, suggesting rapid price growth could prove durable and difficult to break. "My suspicion is that it is not the case, that it may not drop out as quickly as it moves in," Schnabel told a National Association for Business Economics conference. "And it's not even clear whether it's going to be completely symmetric in the sense that everything is even going to drop out at all," she said. This is a positive signal for the European currency.
Investment idea: buy 1.0808 and take profit 1.0878.
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