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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 18 May 2020

18 May 2020, 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. The Federal Reserve said manufacturing production plunged 13.7%, the biggest drop in the series' history. Data for March was revised to show output at factories dropping 5.5% instead of decreasing 6.3% as previously reported. The Census Bureau said that retail sales fell by 16.4%, after a drop of 8.4% in March. That is considerably worse than the 12% fall expected by analysts ahead of time. The March drop was a tad less steep than the initial estimate of 8.7%.

Trading recommendation: Buy 1.0809 and take profit 1.0860.

David Johnson
Analyst of «FreshForex» company
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