Negative macroeconomic statistics from the United States | 21 May 2021

21 May 2021, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

Factory activity in the U.S. mid-Atlantic region slowed down in May after hitting its highest pace in nearly half a century earlier this spring, a fresh survey showed. The Philadelphia Federal Reserve Bank said its business activity index fell to 31.5 from 50.2 in April. It is seen as one of the first monthly indicators of the health of U.S. manufacturing leading up to the national report by the Institute for Supply Management, next due out June 1. The bank's employment index decreased to 19.3 from 30.8 the previous month. This is a negative signal for the dollar.

Investment idea: buy 1.2220 and take profit 1.2265.

David Johnson
Analyst of «FreshForex» company
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