11 October 2023, EUR/USD
EURUSD trading plan:
Euro zone households see inflation staying slightly above the European Central Bank's 2% target for another three years, an ECB survey showed, in a possible headache for rate-setters fighting for their credibility. The ECB's latest Consumer Expectation Survey, carried out in August, showed the median respondent thought inflation would be 2.5% three years later, up from 2.4% in the previous survey round a month earlier. Consumers were also asked about their inkling for inflation in following 12 months, which showed a slight increase to 3.5% from 3.4% in July. The rise in inflation expectations is negative for the euro as the ECB does not want to raise interest rates.
Investment idea: sell 1.0627 and take profit 1.0545.
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