Negative macroeconomic statistics from the United States | 02 اكتوبر 2019
02 اكتوبر 2019, EUR/USD
EURUSD trading plan:
Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. The Institute for Supply Management said its index of national factory activity fell to 47.8, the lowest reading since June 2009, as business conditions deteriorated further amid trade tensions between China and the United States. A reading below 50 signals the domestic factory sector is contracting. Investors are expecting the Federal Reserve to cut interest rates on October 30. This is a negative signal for the U.S. currency.
Trading recommendation: Buy 1.0910 and take profit 1.0957.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
