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U.S. economy is losing speed

U.S. economy is losing speed | 24 June 2022

24 June 2022, USD/JPY

U.S. economy is losing speed

USDJPY trading plan:

The number of Americans filing new claims for unemployment benefits edged down last week as labor market conditions remained tight, though a slowdown is emerging amid high inflation and rising interest rates. The overall labor market remains tight. There were 11.4 million job openings at the end of April, with nearly two openings for every unemployed person. But with rising reports of companies freezing hiring and withdrawing employment offers, job openings are set to trend lower. Recent retail sales, housing and manufacturing data suggest the economy is losing speed after appearing to have rebounded from the first quarter's slump, which was mostly driven by a record trade deficit.

Investment idea: sell 135.21 and take profit 134.59.

David Johnson
Analyst of «FreshForex» company
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