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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 09 May 2022

09 May 2022, EUR/USD

EURUSD trading plan:

U.S. job growth increased more than expected in April, underscoring the economy's strong fundamentals. Nonfarm payrolls rose by 428,000 jobs last month, the Labor Department said. The jobs-workers gap widened to an all-time high of 3.4% of the labor force from 3.1% in February. Average hourly earnings increased 0.3% after advancing 0.5% in March. It shows that the job market is still solid. Average hourly earnings grew at a more modest pace, which is telling us that wage inflation might be easing, which certainly is a good thing for the Fed and inflation.

Investment idea: sell 1.0546 and take profit 1.0485.

David Johnson
Analyst of «FreshForex» company
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