USDJPY – Down
USDJPY trading plan:
The U.S. current account deficit narrowed sharply in the third quarter as exports jumped to a record high, data fresh showed. The Commerce Department said that the current account deficit, which measures the flow of goods, services and investments into and out of the country, contracted 9.1% to $217.1 billion last quarter. That was the smallest gap since the second quarter of 2021. Exports of goods increased $7.2 billion to a record $547.0 billion, boosted by non-monetary gold and capital goods such as civilian aircraft engines and parts as well as other industrial machinery. But soybean and corn exports fell. Imports of goods dropped $32.5 billion to $818.2 billion, pulled down by widespread decreases in consumer goods and industrial supplies and materials. The decline in consumer goods was led by household and kitchen appliances and other household goods. Imports have slowed as businesses assess their inventory needs amid cooling domestic demand against the backdrop of aggressive interest rate increases from the Federal Reserve.
Investment idea: buy 131.65 and take profit 132.35
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