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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 06 October 2022

06 October 2022, USD/JPY

USDJPY trading plan:

The U.S. services industry slowed modestly in September, while employment surged and a measure of prices paid by businesses for inputs fell to more than a 1-1/2-year low, suggesting underlying strength in the economy despite rising interest rates. The Institute for Supply Management said its non-manufacturing PMI dipped to a reading on 56.7 last month from 56.9 in August. A reading above 50 indicates expansion in the services sector, which accounts for more than two-thirds of U.S. economic activity. The economy is slowing as the Federal Reserve aggressively tightens monetary policy to quell inflation. Services activity is being supported by a shift in spending from goods, though demand for services is starting to slow.

Investment idea: buy 144.15 and take profit 144.87.

David Johnson
Analyst of «FreshForex» company
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