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The IMF sees global economic growth of 3.3% this year

The IMF sees global economic growth of 3.3% this year | 10 April 2019

10 April 2019, USD/JPY

The IMF sees global economic growth of 3.3% this year

USDJPY trading plan:

The IMF sees global economic growth of 3.3% this year, down from the 3.5% it forecast in January. This is a bad signal for the stock markets in the short term. The Japanese yen is the funding currency in carry trade transactions - trends in equity markets have a high impact on USDJPY. Investors are now closing carry trade deals - they are selling shares. We are seeing an influx of capital into "safe assets" - gold, Japanese yen, Swiss franc. This is a negative signal for the USDJPY. The trend may change on Friday, April 12, when the corporate reporting season starts in the United States.

Trading recommendation: Sell 111.33 and take profit 111.00.

David Johnson
Analyst of «FreshForex» company
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