01 June 2023, EUR/USD
EURUSD trading plan:
In Germany, inflation eased this month to its lowest level in more than a year, official data showed, after similarly benign readings across the euro zone, suggesting that price growth may be falling more quickly than expected in the 20-nation currency bloc. German consumer prices, harmonized to compare with other European Union countries, rose by a less-than-anticipated 6.3% on the year in May, federal statistics office preliminary data showed. Germany joined a list of major euro zone economies reporting a bigger than expected drop in inflation, suggesting that price growth may be falling more quickly than expected, adding to arguments for caution on rate hikes. This marks the next stage of a gradually broadening disinflationary process as the drop in headline inflation is no longer exclusively the result of base effects but also the result of dropping prices.
Investment idea: range 1.0650 -1.0750.
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