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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 10 May 2022

10 May 2022, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

The U.S. Commerce Department said that wholesale inventories rose 2.3% in March as reported last month. Data for February was revised higher to show stocks at wholesalers climbing 2.8% instead of the previously reported 2.6%. Inventories are a key part of gross domestic product. Wholesale motor vehicle inventories accelerated 2.4% after rebounding 1.9% in February. Inventory investment slowed in the first quarter from the October-December period's robust pace, subtracting 0.8 percentage point from GDP last quarter. That combined with a record trade deficit to weigh on GDP, resulting in the economy contracting at a 1.4% annualized rate in the first quarter.

Investment idea: buy 130.03 and take profit 130.71.

David Johnson
Analyst of «FreshForex» company
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