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The cost-of-living crisis

The cost-of-living crisis | 25 March 2022

25 March 2022, GBP/USD

GBPUSD trading plan:

The number of Americans filing new claims for jobless benefits dropped to a 52-1/2-year low last week, while unemployment rolls continued to shrink, pointing to rapidly diminishing labor market slack that will keep boosting wage inflation. Last week's drop in claims was widespread, with large decreases in California, Michigan, Kentucky and Illinois. This is a positive signal for the dollar. British retailers saw their sales fall this month as the cost-of-living squeeze tightened, a Confederation of British Industry survey showed. The CBI's sales-for-the-time-of-year gauge suffered a big fall, sinking to -23 from February's +16. "Retailers had a mediocre March, with sales reported as being below seasonal norms," Martin Sartorius, principal economist at the CBI, said.

Investment idea: sell 1.3240 and take profit 1.3160.

David Johnson
Analyst of «FreshForex» company
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