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Positive macroeconomic statistics from the China

Positive macroeconomic statistics from the China | 09 Noviembre 2020

09 Noviembre 2020, USD/JPY

Positive macroeconomic statistics from the China

USDJPY trading plan:

China exports grew at the fastest pace in 19 months in October. Exports in October rose 11.4% from a year earlier, beating traders' expectations of a 9.3% increase and quickening from a solid 9.9% increase in September. China's trade surplus with the United States widened to $31.37 billion in October from $30.75 billion in September. China's exports could stay strong in the rest of 2020 as domestic firms resume production faster than global rivals and sell more goods. This is a good signal for the stock market and USDJPY, which has a correlation with the shares.

Trading recommendation: Buy 103.35 and take profit 103.70

David Johnson
Analyst of «FreshForex» company
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