Good and bad news | 21 2月 2023

21 2月 2023, EUR/USD

Good and bad news

EURUSD trading plan:

US consumer sentiment rebounded in February to the highest level since January 2022, adding to the narrative that if the economy does indeed fall into a recession, it will likely be short and shallow. Highlights from the University of Michigan Sentiment release for February included the following: current conditions improved significantly in February, reaching the highest level since December 2021. This is a positive signal for the dollar. Inflation expectations rose in February, but are still below December’s rate and were most likely driven up by the recent strong jobs report. Long-term inflation expectations are well-anchored at 2.9%, unchanged for the third consecutive month. This is a negative signal for the dollar.

Investment idea: range 1.0630 - 1.0740.

Do you want to earn on your forecast?

Join our community on Instagram or Facebook! Every week we give $50 to the trading account to the authors of the most accurate forecasts. The giveaway has already started! Forecasts are accepted until 11:30 GMT February 21.

David Johnson
Analyst of «FreshForex» company
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