GBPUSD – Flat
GBPUSD trading plan:
The personal consumption expenditures price index rose 0.3% last month after dipping 0.1% in July, the U.S. Commerce Department reported. In the 12 months through August, the PCE price index increased 6.2% after advancing 6.4% in July. The Fed tracks the PCE price indexes for its 2% inflation target. Other inflation measures are running much higher. The consumer price index increased 8.3% year-on-year in August. The yield on 10-year Treasury notes was down 5 basis points to 3.83%; the two-year U.S. Treasury yield, was up 8 basis points at 4.27%. Markets are fragile, and the month-on-month (PCE price index) rise is a negative in terms of the markets. The year-on-year headline number would suggest the Fed takes a few more hikes then takes a pause.
Investment idea: sell 1.1281 and take profit 1.1190
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