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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 12 July 2019

12 July 2019, EUR/USD

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. Consumer price index edged up 0.1% last month, held back by cheaper gasoline and food, matching May's rise. It increased 1.6% year-on-year in June, slowing from May's 1.8% rise. The Federal Reserve last month downgraded its inflation projection for 2019 to 1.5% from the 1.8%. Powell said "there is a risk that weak inflation will be even more persistent than we currently anticipate." The yield of 2-Year US government bonds fell below 1.87%. This is a negative signal for the U.S. currency.

Trading recommendation: Buy 1.1250 and take profit 1.1304.

David Johnson
Analyst of «FreshForex» company
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