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New plans from the US Treasury

New plans from the US Treasury | 31 October 2023

31 October 2023, GBP/USD

GBPUSD trading plan:

The US Treasury announced plans to borrow $776bn over the fourth quarter of 2023. Of this amount, $276 billion has already been borrowed, leaving about $500 billion. In the first quarter of 2024, the plan is to borrow $816 billion from the market. Essentially, the Treasury wants to borrow $0.8 trillion per quarter. Meanwhile, the Federal Reserve, under Yellen's leadership, intends to maintain a $750 billion cash balance at the end of each quarter, it will put some cash back into the system by the end of the year. This is a positive signal for the dollar.

Investment idea: sell 1.2190 and take profit 1.2077.

David Johnson
Analyst of «FreshForex» company
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