GBPUSD – Flat
GBPUSD trading plan:
Evidence in favor of a „soft landing“ for the U.S. economy, in which inflation declines without major job losses, appears to be growing, Federal Reserve Vice Chair Lael Brainard said on Thursday in remarks that excluded any explicit policy preference for the U.S. central bank’s upcoming meeting but noted signs of slowing growth. „Inflation has been declining over the past several months against a backdrop of moderate growth,“ Brainard said in prepared remarks for a speech that noted a „significant weakening in the manufacturing sector,“ a moderation in consumer spending, and other data pointing to now „subdued growth“ in 2023. „It remains possible that a continued moderation in aggregate demand could facilitate continued easing in the labor market and reduction in inflation without a significant loss of employment,“ Brainard said. This is a negative signal for the US currency.
Investment idea: buy 1.2340 and take profit 1.2418.
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