The Federal Reserve has no other choice | 18 Septiembre 2023

18 Septiembre 2023, GBP/USD

The Federal Reserve has no other choice

GBPUSD trading plan:

U.S. manufacturing output barely rose in August amid a decline in motor vehicle production, and activity could contract in the months ahead after the United Auto Workers union embarked on strikes at three factories. Factory output edged up 0.1% last month after rebounding 0.4% in July, the Fed said. The gain was in line with economists' expectations. Production was down 0.6% on a year-on-year basis in August. Motor vehicle and parts output decreased 5.0%, almost reversing July's 5.1% surge, when it benefited from difficulties adjusting the data for seasonal fluctuations related to annual plant shutdowns for new model retooling. Production of motor vehicles and parts was 5.9% higher on a year-on-year basis. Excluding motor vehicles, factory output increased 0.6% last month after being unchanged in July. Moderate growth in industrial production is forcing the Federal Reserve to keep interest rates high for an extended period.

Investment idea: sell 1.2420 and take profit 1.2350.

David Johnson
Analyst of «FreshForex» company
¿De acuerdo con la revisión?
Opinión de los comerciantes:
Close
Iniciar sesión
Su navegador no admite cookies. Si la cookie está desactivada en su navegador de Internet, es posible que tenga problemas con la representación del área Personal. Cómo habilitar el soporte para cookies.