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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 15 May 2023

15 May 2023, EUR/USD

EURUSD trading plan:

U.S. consumer sentiment slumped to a six-month low in May as a standoff to raise the federal government's borrowing cap fanned worries about the economy's outlook, a fresh survey showed. The University of Michigan's preliminary reading on the overall index of consumer sentiment came in at 57.7 this month, the lowest reading since last November. The survey's reading of one-year inflation expectations dipped to 4.5% this month after jumping to 4.6% in April. Its five-year inflation outlook rose to 3.2%, the highest reading since 2011, from 3.0% last month.

Investment idea: buy 1.0835 and take profit 1.0930.

David Johnson
Analyst of «FreshForex» company
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