20 June 2023, EUR/USD
EURUSD trading plan:
The European Central Bank should err on the side of further interest rate hikes as inflation could come in even higher than it expects, two ECB policymakers, even as the bank's chief economist opened the door to a pause. The ECB has raised rates by a combined four percentage points over the past year to stem a historic surge in inflation and said it would likely increase them again in July after its new forecasts put price growth above its 2% target through 2025. But the ECB's chief economist Philip Lane had a slightly different take, arguing that being data dependent could also mean not raising rates for one or more meetings and resuming on merit. He added the ECB was likely to raise interest rates again next month but it was too early to predict the decision of the September meeting, which will be shaped by incoming data.
Investment idea: range 1.0875 -1.0975.
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