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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 01 December 2022

01 December 2022, GBP/USD

GBPUSD trading plan:

The U.S. trade deficit in goods widened sharply in October as exports declined amid slowing global demand and a strong dollar. The goods trade deficit surged 7.7% to $99.0 billion last month, the Commerce Department said. Exports of goods dropped 2.6% to $173.7 billion. There were decreases in exports of industrial materials and supplies, which include crude oil. Exports of consumer goods tumbled, but shipments of food and motor vehicles and parts increased. The Federal Reserve's aggressive interest rate hikes to quell inflation have boosted the dollar, making U.S-made goods expensive on the international market.

Investment idea: buy 1.2080 and take profit 1.2147.

David Johnson
Analyst of «FreshForex» company
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