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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 27 July 2021

27 July 2021, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

New home sales fell 6.6% to a seasonally adjusted annual rate of 676,000 units last month, the lowest level since April 2020, the U.S. Commerce Department said. May’s sales pace was revised down to 724,000 units from the previously reported 769,000 units. Sales plunged 19.4% on a year-on-year basis in June, the first annual decrease since the COVID-19 pandemic. The housing market was one of the economy’s star performers during the pandemic, posting double-digit growth for three straight quarters. That streak likely came to an end in the second quarter, with residential investment believed to have had a neutral impact on gross domestic product.

Investment idea: buy 1.1770 and take profit 1.1830.

David Johnson
Analyst of «FreshForex» company
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