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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 07 December 2020

07 December 2020, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

The U.S. labor market weakened dramatically in November, as a fresh wave of the COVID-19 put the brakes on hiring across the country. Nonfarm payrolls grew by only 245,000 through the middle of the month, a sharp slowdown from October. October’s job gains were also revised down to 610,000 from an initial estimate of 638,000. The net addition of jobs was the smallest in the six months since May, when an unprecedented wave of layoffs followed the first lockdowns of the pandemic. Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro.

Investment idea: Buy 1.2090 and take profit 1.2130.

David Johnson
Analyst of «FreshForex» company
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