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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 29 May 2023

29 May 2023, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

Markets are now pricing in a roughly 50-50 chance that the Fed raises rates by another 25 basis points at its June 14 meeting, up from an 8.3% chance seen of an expected rate hike one month ago, according to CME's FedWatch Tool. Excluding the volatile food and energy components, the PCE price index climbed 0.4% after rising 0.3% in March. The so-called core PCE price index increased 4.7% on a year-on-year basis in April after gaining 4.6% in March. The Fed tracks the PCE price indexes for its 2% inflation target. The PCE showed that inflation remains stubborn.

Investment idea: buy 139.84 and take profit 140.44.

David Johnson
Analyst of «FreshForex» company
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