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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 18 January 2023

18 January 2023, GBP/USD

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New York state manufacturing contracted sharply in January as orders collapsed and employment growth stalled, pointing to continued weakness in national factory activity, and little improvement was expected over the next six months. The survey from the New York Federal Reserve offered an early read of conditions in one of the sectors hardest hit by the Federal Reserve's fastest interest rate hiking cycle since the 1980s. It showed slumping demand and improved raw material supplies slowing inflation at the factory gate. National manufacturing has been shrinking since November, according to data from the Institute for Supply Management.

Investment idea: buy 1.2252 and take profit 1.2308.

David Johnson
Analyst of «FreshForex» company
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