The euro soared today and climbed above 1.2400 in active trading amid the political and economic news from the U.S.
It’s been all about the inflation lately. The EUR/USD decidedly reclaimed 1.23 and broke above 1.24 after the US President fired the Secretary of State, Rex Tillerson, and replaced him with the CIA director, Mike Pompeo. The U.S. February inflation numbers also came out as expected at 1.8% annually, which was below the Fed’s 2.0% target. The U.S. dollar weakened against all of its major rivals except the Canadian dollar.
Yesterday, the ECB member, Smets, said the inflation target would take longer to reach during the European trading session, which sent the euro lower and reached 1.2286.
There was 1 trade opened from my MT4 EA today after the news regarding the firing of the U.S. Secretary of State and the tame U.S. inflation numbers. However, the trade hit the stop loss and ended up with a loss.
The strategy can be found here.
The previous week’s result can be found here.