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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 05 August 2021

05 August 2021, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

A measure of U.S. services industry activity jumped to a record high in July. The Institute for Supply Management said its non-manufacturing activity index raced to 64.1 last month, the highest reading since the series started in 2008, from 60.1 in June. A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of U.S. economic activity. Demand is rotating back to services as nearly half of the population has been fully vaccinated against COVID-19, allowing people to travel, frequent restaurants, visit casinos and attend sporting events among services-related activities that were curbed early in the pandemic in favor of goods.

Investment idea: buy 109.50 and take profit 110.00.

David Johnson
Analyst of «FreshForex» company
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