15 November 2023, EUR/USD
EURUSD trading plan:
U.S. consumer prices were unchanged in October as Americans paid less for gasoline, and the annual rise in underlying inflation was the smallest in two years, bolstering the view that the Federal Reserve was probably done raising interest rates. Though rents continued to rise last month, the pace of the increase slowed considerably from September. The softer-than-expected inflation readings reported by the Labor Department's Bureau of Labor Statistics pushed U.S. Treasury yields lower and sparked a stock market rally. Combined with data this month showing job and wage growth cooling in October, the data reinforced expectations the economy could avoid a dreaded recession. Most traders believe the U.S. central bank's fastest monetary policy tightening campaign since the 1980s is over.
Investment idea: buy 1.0840 and take profit 1.0910.
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