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Fed weighs its next step

Fed weighs its next step | 11 July 2023

11 July 2023, USD/JPY

USDJPY trading plan:

Americans said in June they were expecting the weakest near-term inflation gains in just over two years, while continuing to mark up the expected path of home price increases, a fresh survey from the New York Federal Reserve showed. The New York Fed reported in its Survey of Consumer Expectations for June that respondents see inflation levels a year from now rising by 3.8%, down from the 4.1% gain expected in May. The June reading was the weakest since April 2021, and marked a three-percentage-point drop from the peak a year ago. The survey also found that expectations for future home price increases marked their fifth straight monthly improvement, retracing levels seen a year ago. Survey respondents foresee home prices rising by 2.9%, compared to the 2.6% rise expected in May.

Investment idea: range 140.00 -140.85.

David Johnson
Analyst of «FreshForex» company
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