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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 22 February 2023

22 February 2023, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

S&P Global said its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, increased to 50.2 this month from a final reading of 46.8 in January. That ended seven straight months of the index being below the 50 marks, which indicates contraction in the private sector. The services sector accounted for the rise in business activity, while manufacturing remained weak. The rebound in business activity fits in with recent robust data on retail sales, the labor market and manufacturing production, which have suggested solid momentum in the economy at the start of the year.

Investment idea: buy 134.25 and take profit 135.03.

David Johnson
Analyst of «FreshForex» company
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