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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 20 April 2022

20 April 2022, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

The U.S. housing market stayed strong in March. Housing starts rose a seasonally adjusted 0.3% on the month and were up 8.9% from a year earlier to 1.793 million - their highest level since the subprime credit-fueled boom in 2006/7. Building permits, meanwhile, also edged higher to 1.873 million. The dynamic for multi-unit buildings continues to be much stronger than that for single-family homes. Multi-family unit starts rose 7.5% on the month, while single-family homes fell 1.7%. The boom that started in the pandemic has shown few signs of slowing down, even as the cost of borrowing for homeowners has risen increasingly quickly in recent months.

Investment idea: sell 1.0829 and take profit 1.0749.

David Johnson
Analyst of «FreshForex» company
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