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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 04 August 2023

04 August 2023, EUR/USD

Positive macroeconomic statistics from the United States

EURUSD trading plan:

New orders for U.S.-made goods surged in June, boosted by strong demand for transportation equipment and other goods, showing some pockets of strength in manufacturing despite higher interest rates. These so-called hard data suggest the manufacturing sector continues to hang on despite 525 basis points in rate hikes from the Federal Reserve since March 2022. Orders for transportation equipment jumped 12.0% in June after rising 4.2% in the prior month. Civilian aircraft orders soared 69.4%, while motor vehicle orders rose 0.9%. Orders for computers and electronic products increased 1.6%. Electrical equipment, appliances and components orders advanced 1.5%. But machinery orders fell 0.2%.

Investment idea: sell 1.0970 and take profit 1.0900.

David Johnson
Analyst of «FreshForex» company
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