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Fed not ready to cut rates

Fed not ready to cut rates | 21 November 2023

21 November 2023, GBP/USD

Fed not ready to cut rates

GBPUSD trading plan:

US economic data points to an economy that’s expanding while price growth is slowing, but the progress isn’t sufficient for the Federal Reserve to declare victory on inflation, Richmond Fed President Thomas Barkin said. US central bankers held the benchmark policy rate steady for a second time earlier this month to gather more information on the economy before their final meeting of the year on Dec. 12-13. Inflation is cooling but is still too high with the consumer price index, minus food and energy, rising 4% in October from a year earlier. While the Fed targets a different measure of price growth, the goal is 2%. This is a positive signal for the dollar.

Investment idea: sell 1.2547 and take profit 1.2441.

David Johnson
Analyst of «FreshForex» company
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