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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 13 July 2020

13 July 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 European currency. The producer price index for final demand dropped 0.2% last month after rebounding 0.4% in May. In the 12 months through June, the PPI declined 0.8%, matching May's decrease. In the 12 months through June, the core PPI edged down 0.1%. The core PPI dropped 0.4% on a year-on-year basis in May, which was the largest annual decrease since the introduction of the series in August 2013. U.S. producer prices unexpectedly fell in June as rising costs for energy goods were offset by weakness in services, pointing to subdued inflation.

Trading recommendation: Buy 1.1295 and take profit 1.1350.

David Johnson
Analyst of «FreshForex» company
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