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The U.S. trade deficit fell to a more than three-year low

The U.S. trade deficit fell to a more than three-year low | 08 January 2020

08 January 2020, USD/JPY

The U.S. trade deficit fell to a more than three-year low

USDJPY trading plan:

We are expecting an uptrend to develop. The Commerce Department said on Tuesday the trade deficit decreased 8.2% to $43.1 billion, the smallest since October 2016. The percentage drop was the largest since January. Data for October was revised to show the trade gap declining to $46.9 billion instead of the previously reported $47.2 billion. The shrinking trade bill should provide a boost to gross domestic product in the fourth quarter, falling consumer goods imports also suggest a cooling in domestic demand. The goods trade deficit with China, the focus of the White House's tumbled 15.7% to $26.4 billion.

Trading recommendation: Buy 108.20 and take profit 108.50.

David Johnson
Analyst of «FreshForex» company
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