Negative macroeconomic statistics from the United States

10 Octubre 2019, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

We are expecting the bullish rally to continue. The United States will disappoint investors with negative macroeconomic statistics on the consumer price index today. A measure of underlying U.S. producer prices posted the biggest monthly drop in more than four years. The overall producer-price index also dropped 0.3% from August and was up 1.4% from a year earlier. This factor signals a decline in the consumer price index. Low inflation expectations will force the Federal Reserve to cut interest rates at its October 30 meeting.

Trading recommendation: Buy 1.1000 and take profit 1.1030.


David Johnson
Analyst of «FreshForex» company
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