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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 22 December 2022

22 December 2022, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

British retailers reported a surprise pick-up in demand in December, but expect spending to slide again in 2023 as shoppers are pressured by the rising cost of living, a survey from the Confederation of British Industry showed. The CBI's distributive trades index, which measures the difference in the percentage of retailers reporting annual rises and falls in sales volumes, rose to +11 in December from -19 in November. Any festive cheer is expected to be short-lived. Retailers are bracing themselves for the chill winds that will blow through the sector this winter, with consumer spending set to be hit hard by high inflation.

Investment idea: buy 1.2100 and take profit 1.2170.

David Johnson
Analyst of «FreshForex» company
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