The Fed will remain cautious | 17 Tháng mười một 2023

17 Tháng mười một 2023, USD/JPY

USDJPY trading plan:

After strong growth in previous months, US retail sales slowed slightly in October. The main factor was a decline in car sales and sales of household goods, which is logical given weak housing sales with interest rates at 7-8%. However, consumer spending remained strong, with increased spending on restaurants and food. Overall, sales were still at high levels and consumers continued to spend, although growth slowed in October. US manufacturing showed a negative trend in October. Production in the manufacturing sector fell by 0.7% m/m, with an annual decline of 1.7% for the past 8 consecutive months. The main reason for the decline in October was a drop in production in the defense industry. However, production in the defense industry is growing. Overall, this is more of a stagnation in production. The economy has worsened, inflation also slowed in October, but the main inflationary impulse is still around 4%, which allows the Fed to remain cautious.

Investment idea: sell 150.80 and take profit 150.00.

David Johnson
Analyst of «FreshForex» company
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