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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 09 August 2021

09 August 2021, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

The U.S. Labor Department reported on Friday that nonfarm payrolls rose by 943,000 jobs last month, beating the forecast of traders. Job gains for June and May also were revised higher. The unemployment rate also fell sharply to 5.4% while wages rose at a solid pace. U.S. employment data showing strong job gains is likely to push the Federal Reserve closer to paring its massive support for the economy. Vice Chair Richard Clarida, also said this week they could envision a reduction in the central bank's purchases of Treasuries and mortgage-backed securities if the job gains accelerated. This is a positive signal for the dollar!

Investment idea: buy 109.95 and take profit 110.40.

David Johnson
Analyst of «FreshForex» company
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