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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 31 May 2021

31 May 2021, USD/JPY

Negative macroeconomic statistics from the United States

USDJPY trading plan:

U.S. consumer sentiment deteriorated in May as consumers grew more concerned about a pickup in inflation. The University of Michigan's Consumer Sentiment Index fell to a final reading of 82.9 from April's final level of 88.3. «Consumer confidence remained largely unchanged at the reduced level recorded at mid-month», survey director Richard Curtin said in a statement. «It is hardly surprising that the resurgent strength of the economy produced more immediate gains in demand than supply, causing consumers to expect a surge in inflation».

Investment idea: sell 110.00 and take profit 109.75.

David Johnson
Analyst of «FreshForex» company
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