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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 07 October 2019

07 October 2019, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. Nonfarm payrolls increased by 136,000 jobs last month, the government's survey of establishments showed. The economy created 45,000 more jobs in July and August than previously estimated. Economists had forecast payrolls would increase by 145,000 jobs in September. Despite the tight labor market, average hourly earnings were unchanged last month after advancing 0.4% in August. That lowered the annual increase in wages to 2.9% from 3.2% in August. The average workweek was unchanged at 34.4 hours. The negative dynamics of the labor market forces the Federal Reserve to reduce interest rates.

Trading recommendation: Buy 1.0970 and take profit 1.1005.

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David Johnson
Analyst of «FreshForex» company
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