Good and bad news | 21 Oktober 2021

21 Oktober 2021, EUR/USD

EURUSD trading plan:

German government bond yields edged lower, reversing direction after rising in early trade amid some concerns about potential monetary tightening by the European Central Bank. Market expectations for future interest rates do not square with the European Central Bank’s guidance for no hike until inflation is seen stable at 2%, the ECB’s chief economist Philip Lane said. The announcement of the forthcoming resignation of Bundesbank President Jens Weidmann, a relentless critic of the ECB’s ultra-easy monetary policy, had little impact on the market. This is a negative signal for the euro. Gold prices jumped as worries over rising inflation and supply chain issues boosted the safe-haven metal’s appeal. This is a positive signal for the euro.

Investment idea: range 1.1617 -1.1688.

David Johnson
Analyst of «FreshForex» company
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