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Positive macroeconomic statistics from the UK

Positive macroeconomic statistics from the UK | 22 February 2023

22 February 2023, GBP/USD

Positive macroeconomic statistics from the UK

GBPUSD trading plan:

Britain looks on course to sidestep a long recession. The preliminary "flash" reading of the S&P Global/CIPS UK Composite Purchasing Managers' Index jumped to 53.0 in February from 48.5 in January, above the 50 thresholds for growth for the first time since July. The strength of the survey made it more likely that the Boy - grappling with an inflation rate still above 10% - would raise interest rates to 4.25% in March, despite further signs of easing price pressures. Crucially for the BoE, the PMI's price indexes - a good guide of future inflation pressure - continued to fall, with businesses' costs rising at the slowest pace since April 2021.

Investment idea: buy 1.2085 and take profit 1.2171.

David Johnson
Analyst of «FreshForex» company
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