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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 28 October 2020

28 October 2020, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

New orders for key U.S.-made capital goods rose more than expected in September. Orders for non-defense capital goods excluding aircraft, a closely watched proxy for business spending plans, increased 1.0% last month. Core capital goods orders, which have pulled above the pre-pandemic level, were in September boosted by increased demand for primary metals, fabricated metal products and computers and electronic products. The three straight months of growth in shipments likely helped to lift overall business investment from a deep hole in the third quarter.

Trading recommendation: Buy 104.09 and take profit 104.41.

David Johnson
Analyst of «FreshForex» company
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