Strong macroeconomic data from the US | 27 Octubre 2023
27 Octubre 2023, EUR/USD
EURUSD trading plan:
The U.S. economy grew at its fastest pace in nearly two years in the third quarter, once again defying dire warnings of a recession that have lingered since 2022. Gross domestic product increased at a 4.9% annualized rate last quarter, the fastest since the fourth quarter of 2021, the Commerce Department's Bureau of Economic Analysis said in its advance estimate of third-quarter GDP growth. The strong Q3 GDP result reinforces the market tension between good data on the one hand and the prospect of higher rates and a more restrictive Fed on the other.
Investment idea: sell 1.0577 and take profit 1.0490.
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