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Positive statistics from China

Positive statistics from China | 15 December 2020

15 December 2020, USD/JPY

Positive statistics from China

USDJPY trading plan:

Data released by the China National Bureau of Statistics showed that industrial production grew 7% year-on-year and slightly higher than October’s 6.9% growth. Retail sales grew 5% year-on-year, down from the forecast 5.2% growth but up from October’s 4.3% growth. The unemployment rate was 5.2%, in line with forecasts but slightly down from October’s 5.3% rate. Strong exports have been a key driver for the economy’s recovery from COVID-19-induced lockdowns in the first quarter of the year. Positive statistics for stock markets and USDJPY, as assets are correlated with each other.

Investment idea: Buy 103.90 and take profit 104.20.

David Johnson
Analyst of «FreshForex» company
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