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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 01 September 2022

01 September 2022, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

British households' expectations for average inflation over the next five to 10 years hit a record-high 4.8% in August, more than double the Bank of England's 2% inflation target, a monthly survey from YouGov and U.S. bank Citi showed. Before the COVID-19 pandemic in 2020 - when British inflation was generally close to its target - the long-run inflation measure typically stayed in a range of 2.9% to 3.4%. August's increase from July's 3.8% reading was the biggest on record and the first rise since February. An alternative question, which gave a wider range of options for inflation, showed expectations for the year ahead rose to 10.3% in August from 7.8% in July, Citi said.

Investment idea: sell 1.1648 and take profit 1.1560.

David Johnson
Analyst of «FreshForex» company
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