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U.S. retail sales unexpectedly rebounded

U.S. retail sales unexpectedly rebounded | 16 September 2022

16 September 2022, GBP/USD

U.S. retail sales unexpectedly rebounded

GBPUSD trading plan:

U.S. retail sales unexpectedly rebounded in August as Americans ramped up purchases of motor vehicles and dined out more amid lower gasoline prices, but demand is cooling as the Federal Reserve aggressively raises interest rates to fight inflation. Consumer spending, however, is likely to remain supported by persistent strength in the labor market, with other data on Thursday showing the number of people filing new claims for unemployment benefits last week fell to the lowest level in more than three months. Together with a surprise increase in consumer prices in August, the reports likely give the U.S. central bank ammunition to deliver a third consecutive 75-basis-point rate hike.

Investment idea: sell 1.1450 and take profit 1.1388.

David Johnson
Analyst of «FreshForex» company
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