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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 28 July 2023

28 July 2023, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

The U.S. economy grew faster than expected in the second quarter as a resilient labor market supported consumer spending, while businesses boosted investment in equipment and built more factories, potentially keeping a much-feared recession at bay. Consumer spending, which accounts for more than two-thirds of U.S. economic activity, increased at a 1.6% pace in the second quarter. Though the pace slowed from the first quarter's robust 4.2% rate, it was enough to add more than a full percentage point to GDP growth. Income at the disposal of households after adjusting for inflation rose at a 2.5% rate after surging at a 8.5% pace in the first quarter. The saving rate rose to 4.4% from 4.3%.

Investment idea: sell 1.0980 and take profit 1.0895.

David Johnson
Analyst of «FreshForex» company
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