Good and bad news | 17 September 2021

17 September 2021, GBP/USD

Good and bad news

GBPUSD trading plan:

U.S. government bond yields rose after a surprisingly strong reading in retail sales lifted some concerns about growth in the world's largest economy. US retail sales rose 0.7% last month. The National Retail Federation said the rise in sales despite the headwinds reflected the continued strength of the American consumer and the resilience of the nation's retailers. This is positive news for the dollar. A bullish rally in the oil market will have a negative impact on the value of the dollar, since assets have an inverse correlation. Hurricanes Ida and Nicholas damaged platforms, pipelines and processing hubs, shutting in most offshore production for weeks. Restarts continued on Thursday with about 28% of U.S. Gulf of Mexico crude output offline. Some vessels remained at sea waiting to load U.S. crude.

Investment idea: range 1.3765 -1.3850.

David Johnson
Analyst of «FreshForex» company
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