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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 29 January 2021

29 January 2021, GBP/USD

Positive macroeconomic statistics from the United States

GBPUSD trading plan:

New home sales increased 1.6% to a seasonally adjusted annual rate of 842,000 units last month, the Commerce Department said. The government reported last week that housing starts soared in December to their highest level since September 2006. Permits for future homebuilding were also the highest since August 2006. But surging lumber prices and labor and land shortages could slow the housing market momentum. The housing market is being supported by cheaper mortgages and an exodus from city centers to suburbs and other low-density areas as companies allow employees to work from home and schools shift to online classes because of the coronavirus pandemic.

Investment idea: Sell 1.3750 and take profit 1.3705.

David Johnson
Analyst of «FreshForex» company
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