Negative macroeconomic statistics from the United States | 26 May 2022

26 May 2022, GBP/USD

Negative macroeconomic statistics from the United States

GBPUSD trading plan:

New orders for U.S.-made capital goods increased less than expected in April, suggesting businesses could be slowing their pace of spending on equipment as they confront growing headwinds from rising interest rates and tightening financial conditions. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, rose 0.3% last month. These so-called core capital goods orders advanced 1.1% in March. They were up 10.0% on a year-on-year basis. Core capital goods orders were held back by modest decreases in bookings for fabricated metal products as well as electrical equipment, appliances and components. There were solid increases in orders for machinery and primary metals. But orders for computers and electronic products barely rose.

Investment idea: buy 1.2535 and take profit 1.2585.

David Johnson
Analyst of «FreshForex» company
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