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The good gauge of economic health

The good gauge of economic health | 06 July 2020

06 July 2020, EUR/USD

The good gauge of economic health

EURUSD trading plan:

We are expecting an uptrend to develop. IHS Markit's final Composite Purchasing Managers' Index seen as a good gauge of economic health, bounced to 48.5 in June from May's 31.9. Activity in the bloc's dominant service industry also almost returned to growth last month. Its PMI soared to 48.3 from 30.5. The services employment index rose to 43.9 from 37.9. French service sector activity returned to growth as its lockdown was further eased, boosting overall business activity. This is a positive signal for the European economy!

Trading recommendation: Buy 1.1270 and take profit 1.1308.

David Johnson
Analyst of «FreshForex» company
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