13 September 2023, EUR/USD
EURUSD trading plan:
German wholesale prices fell for the fifth month in a row in August due to lower prices for mineral oil products, data from the federal statistics office showed. Wholesale prices declined by 2.7% in August compared to the same month last year, according to the data. Easing price pressures in wholesale trade point to lower inflation rates in Germany in the coming months. Wholesalers are the link between manufacturers and consumers and price reductions usually reach consumers with a delay. A fall in inflation will force the ECB to keep interest rates at current levels, which will be detrimental to the single European currency.
Investment idea: sell 1.0760 and take profit 1.0694.
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