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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 28 February 2022

28 February 2022, GBP/USD

GBPUSD trading plan:

The number of Americans filing new claims for unemployment benefits fell slightly more than expected last week, indicating that the labor market recovery was gaining traction. The weekly jobless claims report from the Labor Department also showed unemployment rolls shrinking to levels last seen in 1970, underscoring the tightening labor market conditions. There is an acute shortage of workers, with a near record number of job openings, keeping layoffs minima. Many Federal Reserve officials view labor market conditions as already at or very close to maximum employment. The U.S. central bank is expected to start raising interest rates in March to tamp down inflation, with economists anticipating as many as seven hikes this year. This is a positive signal for the dollar.

Investment idea: sell 1.3373 and take profit 1.3325.

David Johnson
Analyst of «FreshForex» company
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