Positive macroeconomic statistics from the United States | 29 May 2023
29 May 2023, USD/JPY
USDJPY trading plan:
Markets are now pricing in a roughly 50-50 chance that the Fed raises rates by another 25 basis points at its June 14 meeting, up from an 8.3% chance seen of an expected rate hike one month ago, according to CME's FedWatch Tool. Excluding the volatile food and energy components, the PCE price index climbed 0.4% after rising 0.3% in March. The so-called core PCE price index increased 4.7% on a year-on-year basis in April after gaining 4.6% in March. The Fed tracks the PCE price indexes for its 2% inflation target. The PCE showed that inflation remains stubborn.
Investment idea: buy 139.84 and take profit 140.44.
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.
