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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 02 February 2022

02 February 2022, USD/JPY

Negative macroeconomic statistics from the United States

USDJPY trading plan:

A measure of U.S. manufacturing activity fell to a 14-month low in January amid an outbreak of COVID-19 cases, supporting the view that economic growth lost steam at the start of the year. The economy hit a soft patch in December which appeared to have persisted in early 2022 as coronavirus infections, driven by the Omicron variant, surged across the country. The ensuing disruptions at businesses and schools have led economists to anticipate a sharp slowdown in job growth in January. Transportation equipment manufacturers complained that "transportation, labor and inflation issues continue to hamper our supply chain and ability to service our customers." Machinery manufacturers said they were constrained by "transportation restrictions and a lack of supplier manpower."

Investment idea: sell 114.90 and take profit 114.45.

David Johnson
Analyst of «FreshForex» company
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