06 September 2023, EUR/USD
EURUSD trading plan:
European Central Bank Chief Economist Philip Lane expressed cautious optimism that inflation was slowing in an interview with, but said a lot more data was needed before he would be comfortable declaring victory. Having raised rates at each of its past nine meetings, the ECB is now debating whether to hike again on Sept. 14, perhaps for the last time in this tightening cycle to ensure it hits its 2% inflation target, or if it should pause given a rapid deterioration of the growth outlook. The bank faces a quandary as its deposit rate is already at a more than two-decade high and economic growth has stagnated for the past three quarters, but services price growth is stubborn and wages are still rising quickly, pointing to persistent price pressures.
Investment idea: sell 1.0747 and take profit 1.0690.
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