Positive macroeconomic statistics from the United States | 30 March 2022

30 March 2022, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

U.S. consumer confidence rebounded from a one-year low in March amid growing labor market optimism, but rising interest rates as the Federal Reserve battles raging inflation could hurt motor vehicle purchases and crimp consumer spending. The labor market continues to favor workers, with other data showing job openings hovering near record highs in February. Tightening labor market conditions are boosting wages, providing some cushion against inflation. Consumers' one-year inflation expectations shot up to an all-time high of 7.9%. The Conference Board's so-called labor market differential, derived from data on respondents' views on whether jobs are plentiful or hard to get, increased to a record high 47.4 this month from a reading of 41.5 in February.

Investment idea: sell 1.1148 and take profit 1.1066.

David Johnson
Analyst of «FreshForex» company
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