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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 29 December 2022

29 December 2022, GBP/USD

GBPUSD trading plan:

Contracts to buy U.S. previously owned homes fell far more than expected in November, diving for a sixth straight month in the latest indication of the hefty toll the Federal Reserve's interest rate hikes are taking on the housing market as the central bank seeks to curb inflation. Pending home sales recorded the second-lowest monthly reading in 20 years as interest rates, which climbed at one of the fastest paces on record this year, drastically cut into the number of contract signings to buy a home. Contracts declined in all four regions, led by a 7.9% drop in the Northeast. All four regions also recorded double-digit declines on a year-over-year basis, with contract signings in the West down by 45.7%, by far the largest regional drop.

Investment idea: buy 1.1977 and take profit 1.2045.

David Johnson
Analyst of «FreshForex» company
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