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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 04 April 2023

04 April 2023, GBP/USD

Negative macroeconomic statistics from the United States

GBPUSD trading plan:

U.S. manufacturing activity slumped in March to the lowest level in nearly three years as new orders plunged, and traders said activity could decline further due to tighter credit conditions. The PMI remained below the 50 thresholds for the fifth straight month, a sign of contraction in manufacturing, yet hard data have suggested continued moderate growth in manufacturing, which accounts for 11.3% of the economy. According to the ISM, 70% of manufacturing gross domestic product was contracting in March, down from 82% in February. It said more industries contracted strongly last month.

Investment idea: buy 1.2440 and take profit 1.2500.

David Johnson
Analyst of «FreshForex» company
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