12 Mei 2023, EUR/USD
EURUSD trading plan:
Euro zone consumers raised their inflation expectations in March for the first time since the autumn, even as the rate of price growth fell and the European Central Bank kept raising interest rates, an ECB survey showed. The median respondent in the latest Consumer Expectation Survey saw prices growing by 5.0% in the coming 12 months, up from 4.6% in the previous survey round in February, the first increase since October. Longer-term expectations also increased sharply, with inflation three years ahead seen at 2.9% after a 2.4% reading a month earlier. Traders expect a fresh, 25-basis-point increase at the ECB's June meeting and possibly one more by the end of the summer, followed by rate cuts starting early next year.
Investment idea: buy 1.0905 and take profit 1.1000.
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