Negative macroeconomic statistics from the United States | 14 يوليو 2020

EURUSD trading plan:

We are expecting an uptrend to develop. Negative macroeconomic statistics from the United States will have a positively affect on the value of the euro. The U.S. federal budget deficit in June surged to $864 billion from single digits a year earlier amid continued strong spending on COVID-19 relief programs and a drop in individual and corporate tax receipts, the Treasury Department said. Outlays were up 223% to $1.1 trillion, a record increase for any month. The bulk of the June's jump in outlays was $511 billion for the government's Paycheck Protection Program. June receipts fell 28% to $241 billion, a reflection of job losses due to the COVID-19 pandemic but also this year's extension of the tax filing deadline to July from April.

Trading recommendation: Buy 1.1340 and take profit 1.1390.