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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 09 December 2022

09 December 2022, GBP/USD

GBPUSD trading plan:

British consumer spending picked up in early December, in line with usual seasonal trends as people spent more in the run-up to Christmas, despite a surging cost of living, the Office for National Statistics said. Credit and debit card spending in the week to Dec. 1 - which included 'Black Friday' sales promotions - was 13 percentage points higher than a week earlier, according to interbank payments data, which the Bank of England provides to the ONS. Compared with a year ago, spending on commuting and other work-related expenses was up by 16 percentage points and spending on socialising was 5 percentage points higher, but spending on discretionary items such as clothing and furniture was down by 10 percentage points.

Investment idea: buy 1.2235 and take profit 1.2311.

David Johnson
Analyst of «FreshForex» company
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