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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 16 November 2022

16 November 2022, GBP/USD

GBPUSD trading plan:

Britain's unemployment rate unexpectedly rose and vacancies fell for a fifth report in a row as employers worried about the outlook for the economy, official data showed, ahead of a tough government budget plan later this week. But pay growth stayed strong, with the increase in basic pay hitting a record high excluding the pandemic period, keeping pressure on the Bank of England to continue raising borrowing costs despite the economic slowdown. Job vacancies continue to fall back from their recent peak, with increasing numbers of employers now telling us that economic pressures are a factor in their decision to hold back on recruitment.

Investment idea: sell 1.2000 and take profit 1.1905.

David Johnson
Analyst of «FreshForex» company
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