Negative macroeconomic statistics from the United States | 17 May 2023

17 May 2023, GBP/USD

Negative macroeconomic statistics from the United States

GBPUSD trading plan:

U.S. retail sales rose 0.4% last month, missing traders' expectations for a 0.8% increase, after dropping 0.7% in March. Retail sales are mostly goods and are not adjusted for inflation. Online retail sales surged 1.2%, likely as price-conscious consumers continue to seek discounts and deals. Sales at food services and drinking places, the only services category in the retail sales report, rose 0.6%. Even as consumers remain resilient, they are also showing some fatigue as inflation gradually slows, forcing cuts in purchases of some big-ticket items as well discretionary spending. Furniture store sales fell 0.7% while receipts at electronics and appliance stores dropped 0.5%. Spending on hobbies decreased 3.3%. Sales at service stations fell 0.8%.

Investment idea: buy 1.2415 and take profit 1.2500.


The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
David Johnson
Analyst of «FreshForex» company
Close
Iniciar sesión