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The U.S. economy rebounded strongly in the 3Q

The U.S. economy rebounded strongly in the 3Q | 28 October 2022

28 October 2022, USD/JPY

The U.S. economy rebounded strongly in the 3Q

USDJPY trading plan:

The U.S. economy rebounded strongly in the third quarter amid a shrinking trade deficit, but the data overstated the nation's economic health as domestic demand was the weakest in two years because of the Federal Reserve's aggressive interest rate hikes. Gross domestic product increased at a 2.6% annualized rate last quarter after contracting at a 0.6% pace in the second quarter. The trade deficit narrowed sharply as slowing demand curbed the goods import bill. Exports also increased during the quarter. The smaller trade gap added 2.77 percentage points to GDP growth, the most since the third quarter of 1980.

Investment idea: buy 145.80 and take profit 146.50.

David Johnson
Analyst of «FreshForex» company
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