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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 11 April 2022

11 April 2022, GBP/USD

Negative macroeconomic statistics from the UK

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British households' confidence in their finances sank to new lows in March, according to a fresh survey, that showed recent measures announced by finance minister Rishi Sunak had failed to bolster morale. The consumer confidence index from pollsters YouGov and consultancy Cebr fell in March to 103.9, its lowest level since January 2021. Both past and future gauges of household financial confidence struck their lowest levels since the survey started in 2012. The limited measures announced by Sunak in the Spring Statement have evidently failed to reassure the majority of consumers. Consumer price inflation hit a 30-year high of 6.2% in February and the government's budget watchdog two weeks ago forecast it would go close to 9% in late 2022, contributing to the biggest fall in living standards since at least the 1950s.

Investment idea: sell 1.3015 and take profit 1.2950.

David Johnson
Analyst of «FreshForex» company
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