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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 07 July 2021

07 July 2021, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

The U.S. Services PMI registered 60.1 percent, which is 3.9 percentage points lower than May’s all-time high reading of 64 percent. According to the Services PMI, 16 services industries reported growth. The composite index indicated growth for the 13th consecutive month after a two-month contraction in April and May 2020. The rate of expansion in the services sector remains strong, despite the slight pullback in the rate of growth from the previous month’s all-time high. Challenges with materials shortages, inflation, logistics and employment resources continue to be an impediment to business conditions.

Investment idea: buy 1.1810 and take profit 1.1888.

David Johnson
Analyst of «FreshForex» company
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