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U.S. consumer confidence eased modestly

U.S. consumer confidence eased modestly | 01 Juni 2022

01 Juni 2022, GBP/USD

GBPUSD trading plan:

U.S. consumer confidence eased modestly in May as persistently high inflation and rising interest rates force Americans to become more cautious about buying big ticket items, including motor vehicles and houses, which could curtail economic growth. The Conference Board's consumer confidence index slipped to a reading of 106.4 this month. Data for April was revised higher to show the index at 108.6 instead of the previously reported reading of 107.3. The index remains above its pandemic lows. Consumers' inflation expectations over the next 12 months dipped to 7.4% from 7.5% in April. That fits in with traders' views that inflation has likely peaked.

Investment idea: range 1.2555 - 1.2640.

David Johnson
Analyst of «FreshForex» company
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