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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 09 June 2023

09 June 2023, GBP/USD

Negative macroeconomic statistics from the United States

GBPUSD trading plan:

The number of Americans filing new claims for unemployment benefits surged to the highest level in more than 1-1/2 years last week, but layoffs are probably not accelerating as the data covered the Memorial Day holiday, which could have injected some volatility. Initial claims for state unemployment benefits jumped 28,000 to a seasonally adjusted 261,000 for the week ended June 3, the highest level since October 2021. The four-week moving average of claims, considered a better measure of labor market trends as it strips out week-to-week volatility, rose 7,500 to 237,250. The Federal Reserve is expected to keep its policy rate unchanged next Wednesday for the first time since March 2022 when it embarked on its fastest interest rate hiking campaign since the 1980s. The U.S. central bank has raised its policy rate by 500 basis points since then.

Investment idea: buy 1.2520 and take profit 1.2595.

David Johnson
Analyst of «FreshForex» company
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