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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 25 March 2022

25 March 2022, USD/JPY

USDJPY trading plan:

A measure of U.S. business activity increased to an eight-month high in March, fueled by strong demand for both goods and services. U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 58.5 this month. That was the highest reading since July 2021. A reading above 50 indicates growth in the private sector. The continued rebound from a slump in January mostly reflected pent-up demand and the easing of COVID-19 restrictions across the country amid a massive decline in coronavirus cases, as well as less severe supply chain disruptions. The flash composite orders index rose to a nine-month high, with businesses reporting that "a greater availability of inputs allowed them to be more competitive and win new customers."

Investment idea: buy 121.40 and take profit 122.01.

David Johnson
Analyst of «FreshForex» company
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