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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 02 March 2020

02 March 2020, GBP/USD

Negative macroeconomic statistics from the United States

GBPUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the British currency. Personal spending, which accounts for about two-thirds of the economy, rose 0.2% from the prior month after an upwardly revised 0.4% gain in December, Commerce Department data showed. As businesses have pulled back on investment, consumption has become more crucial for growth, shouldering the weight of an economy already buffeted by trade uncertainty. The personal saving rate climbed to 7.9%, the most since April, from 7.5% the prior month. This is a negative factor for the American economy.

Trading recommendation: Buy 1.2785 and take profit 1.2825.

David Johnson
Analyst of «FreshForex» company
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