29 Oktober 2021, EUR/USD
EURUSD trading plan:
European Central Bank President Christine Lagarde acknowledged that inflation will be high for even longer but pushed back against market bets that price pressures would trigger an interest rate hike as soon as next year. With central banks around the world signalling tighter policy amid rising prices, Lagarde said the ECB had done much “soul-searching” over its stance but concluded that inflation was still temporary, so a policy response would be premature. “While inflation will take longer to decline than previously expected, we expect these factors to ease in the course of next year ... We continue to see inflation in the medium term below our 2% target,” Lagarde said. This is a negative signal for the euro.
Investment idea: sell 1.1690 and take profit 1.1639.
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