Positive macroeconomic statistics from the United States | 27 Abril 2022

27 Abril 2022, EUR/USD

EURUSD trading plan:

New orders for U.S.-made capital goods rebounded more than expected in March, suggesting that business spending on equipment ended the first quarter with strong momentum, though part of the increase reflected higher prices. The households were eager to buy big-ticket items like motor vehicles, television sets and clothing dryers within six months. Consumers were also inclined to buy a house, despite surging mortgage rates and record home prices. There were strong increases in orders for electrical equipment, appliances and components, as well as computers and electronic products, machinery, primary metals and fabricated metal products. Orders for transportation equipment advanced 0.2% after plunging 4.4% in February. Motor vehicle orders accelerated 5.0% after rising 0.3% in February. Core capital goods shipments are used to calculate equipment spending in the GDP measurement. Demand for goods remains strong even as spending is shifting back to services, keeping manufacturing expanding.

Investment idea: sell 1.0650 and take profit 1.0585.

David Johnson
Analyst of «FreshForex» company
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