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High inflation in the United States

High inflation in the United States | 01 November 2021

01 November 2021, GBP/USD

High inflation in the United States

GBPUSD trading plan:

U.S. labor costs increased by the most since 2001 as companies boosted wages and benefits amid a severe worker shortage, suggesting inflation could remain high. While wage increases were initially concentrated in lower wage industries, more recently wage pressures have been broadening across industries. The ECI is widely viewed by policymakers and economists as one of the better measures of labor market slack and a predictor of core inflation as it adjusts for composition and job quality changes. The COVID-19 pandemic has upended labor market dynamics, creating an economy-wide acute shortage of workers. There were 10.4 million job openings at the end of August.

Investment idea: sell 1.3700 and take profit 1.3645.

David Johnson
Analyst of «FreshForex» company
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