Alarming news from Michigan University | 23 11月 2023

23 11月 2023, USD/JPY

USDJPY trading plan:

U.S. consumers' inflation expectations rose for a second straight month in November despite growing signs that price increases are in fact slowing, according to a survey released that may create some worry for Federal Reserve policymakers. American households see inflation accelerating to 4.5% over the next year, up from 4.2% in October and from 3.2% in September, the University of Michigan's twice-monthly survey of consumer sentiment showed. That is the highest rate since April. These expectations have risen in spite of the fact that consumers have taken note of the continued slowdown in inflation. For a data dependent Fed, this is not good news as they do not want to see consumer inflation expectations become unanchored, since historically it becomes increasingly difficult to reset consumer psychology towards a lower inflationary environment.

Investment idea: buy 148.77 and take profit 149.64.

David Johnson
Analyst of «FreshForex» company
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