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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 03 February 2022

03 February 2022, USD/JPY

Negative macroeconomic statistics from the United States

USDJPY trading plan:

U.S. private payrolls fell for the first time in a year in January. The surprise drop in payrolls in the ADP National Employment report on Wednesday was across all industries and business sizes. It added to a slowdown in manufacturing activity last month in suggesting that the economy lost significant momentum at the start of 2022 as coronavirus cases, driven by the Omicron variant, raged across the nation. The broad decline in private payrolls was led by the leisure and hospitality sector, with 154,000 job losses. Trade, transportation and utilities shed 62,000 jobs. Manufacturing employment decreased by 21,000 jobs. Freezing temperatures last month were also a factor, with construction losing 10,000 jobs.

Investment idea: sell 114.69 and take profit 114.20.

David Johnson
Analyst of «FreshForex» company
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