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The Fed needs wage growth to slow

The Fed needs wage growth to slow | 02 August 2023

02 August 2023, GBP/USD

The Fed needs wage growth to slow

GBPUSD trading plan:

U.S. job openings fell to the lowest level in more than two years in June, but remained at levels consistent with tight labor market conditions, which could spur the Federal Reserve to keep interest rates elevated for some time. Labor market resilience was underscored by the third straight monthly decline in layoffs as employers hoard workers after difficulties finding labor during the COVID-19 pandemic. There were 1.61 job openings for every unemployed person in June, up from 1.58 in May. Job openings, a measure of labor demand, dropped 34,000 to 9.582 million as of the last day of June, the lowest level since April 2021, the Job Openings and Labor Turnover Survey, or JOLTS report, showed.

Investment idea: range 1.2740 -1.2840.

David Johnson
Analyst of «FreshForex» company
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