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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 03 December 2020

03 December 2020, GBP/USD

GBPUSD trading plan:

The UK and the EU might have made enough progress to agree to a trade deal in the next few days. This is a positive signal for the British currency! The pace of repair in the U.S. job market slowed again in November, as the private sector added fewer jobs than expected in a month overshadowed by surging Covid-19 cases and election controversy. Payrolls processor ADP reported that private-sector payrolls rose by only 307,000 in the month through mid-November, well below the 410,000 gain expected. On a brighter note, October’s numbers were revised up to 404,000 from 365,000. This is a negative signal for the dollar!

Investment idea: Buy 1.3390 and take profit 1.3444.

David Johnson
Analyst of «FreshForex» company
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