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U.S. money supply renewed its historical maximum

U.S. money supply renewed its historical maximum | 13 November 2020

13 November 2020, GBP/USD

U.S. money supply renewed its historical maximum

GBPUSD trading plan:

The Federal Reserve balance increased by $17.93 billion over the last week, while the week earlier the figure rose by $11.17 billion. The growth rate is accelerating, which is negative for the American currency. The Federal Reserve increased the volume of bond purchases, which contributed to the increase in assets on the balance sheet. United States M2 money supply renewed its historical maximum and reached $ 18.89 trillion. The growth rate still exceeds 24% and is at an all-time high. This is a negative signal for the U.S. currency!

Trading recommendation: Buy 1.3120 and take profit 1.3180

David Johnson
Analyst of «FreshForex» company
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