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Negative macroeconomic statistics from the UK

Negative macroeconomic statistics from the UK | 20 December 2022

20 December 2022, GBP/USD

Negative macroeconomic statistics from the UK

GBPUSD trading plan:

British factories' output and export orders slid this month, according to a survey that underlined the troubles faced by the manufacturing sector, including high inflation and a weak global economy. The Confederation of British Industry said its gauge of manufacturing output during the three months to December fell to its lowest level since September 2020. Its gauge of new orders cooled to -6 in December from -5 in November. However, export orders fell sharply to -19 from -18 and manufacturers' price expectations strengthened. The corrosive effect of higher inflation on demand is increasingly clear, as manufacturing output contracted at the fastest pace in two years over the last quarter.

Investment idea: sell 1.2200 and take profit 1.2140.

David Johnson
Analyst of «FreshForex» company
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