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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 02 June 2021

02 June 2021, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

U.S. manufacturing activity picked up in May as pent-up demand amid a reopening economy boosted orders. The Institute for Supply Management ISM survey found companies and their suppliers "continue to struggle to meet increasing levels of demand," noting that "record-long lead times, wide-scale shortages of critical basic materials, rising commodities prices and difficulties in transporting products are continuing to affect all segments" of manufacturing. More than half of adults in the United States are now fully vaccinated against COVID-19, allowing authorities to lift pandemic-related restrictions on businesses. That is whipping up demand across the economy, as is massive fiscal stimulus. There is no sign the supply bottlenecks are easing, even as demand is reverting back to services.

Investment idea: buy 109.55 and take profit 110.05.

David Johnson
Analyst of «FreshForex» company
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