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The U.S. economy grew faster than expected

The U.S. economy grew faster than expected | 27 January 2023

27 January 2023, USD/JPY

USDJPY trading plan:

The U.S. economy grew faster than expected in the fourth quarter, but that likely exaggerates the nation's health as a measure of domestic demand rose at its slowest pace in 2-1/2 years, reflecting the impact of higher borrowing costs. While consumer spending maintained a solid pace of growth, a big chunk of the increase in consumption was early in the fourth quarter. Retail sales weakened sharply in November and December. Business spending on equipment contracted last quarter and is likely to remain on the backfoot as demand for goods softens.

Investment idea: buy 129.70 and take profit 130.40.

David Johnson
Analyst of «FreshForex» company
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