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High speed of money supply

High speed of money supply | 28 September 2020

28 September 2020, EUR/USD

High speed of money supply

EURUSD trading plan:

The M2 money supply in the United States has renewed its all-time high and reached $ 18.7 trillion. The indicator increased by $ 123.9 billion, against $ 112.2 billion a week earlier. The growth rate of the money supply has been accelerating for the third week in a row. The growth rate has renewed its historical maximum and is 24.7% y / y. The Fed has never printed money at this rate in history. This is a negative signal for the dollar. Talk that the Democrats in the U.S. House of Representatives were working on a $2.2 trillion COVID-19 stimulus package that could be voted on next week helped boost risk sentiment.

Trading recommendation: Buy 1.1620 and take profit 1.1677.

David Johnson
Analyst of «FreshForex» company
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