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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 16 April 2020

16 April 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. The Federal Reserve said on Wednesday manufacturing production plummeted 6.3% last month, the biggest decrease since February 1946. Data for February was revised down to show output at factories slipping 0.1% instead of edging up 0.1% as previously reported. The highly contagious virus, which causes a respiratory illness called COVID-19, has depressed demand for crude oil, undercutting spending by oil producers on drilling and shaft exploration equipment. Business investment has contracted for three straight quarters.

Trading recommendation: Buy 1.2490 and take profit 1.2588.

David Johnson
Analyst of «FreshForex» company
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