The World Bank raised its forecast for the growth of the American economy for this year – GDP growth is expected at 6.8%, against the previous forecast of 3.5%. For 2022, the indicator was also revised upward by 0.5 p.p. to 4.2%. Meanwhile, the forecast for Japan is more modest, which assumes economic growth by 2.9%.

Against this background, the upward trend in the American stock market should be expected to continue, inasmuch as expectations of a rapid growth in US GDP have a historically positive influence on the capitalization of the stock market. This is a positive signal for this currency pair, inasmuch as it correlates with the S&P500 index.

Trading recommendation: Buy 109.35/109.15 and take profit 109.80.