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Fed policymakers remain on the fence

Fed policymakers remain on the fence | 22 May 2023

22 May 2023, GBP/USD

GBPUSD trading plan:

Deposits at all U.S. commercial banks slipped last week and overall credit provided by banks edged lower as well, Federal Reserve fresh data released showed. Deposits, which had dropped substantially after the collapse in March of Silicon Valley Bank, were down at large banks and little changed at smaller ones. Meanwhile, credit provided by banks dropped to $17.32 trillion from $17.37 trillion a week earlier, led by a decline in securities holdings. Loans and leases saw modest declines. U.S. policymakers remain on the fence about their upcoming policy decision, and will receive important jobs and inflation data in coming weeks that could sway the debate within the central bank's rate-setting Federal Open Market Committee.

Investment idea: range 1.2360 -1.2495.

David Johnson
Analyst of «FreshForex» company
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