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Neutral macroeconomic statistics for the U.S

Neutral macroeconomic statistics for the U.S | 04 September 2020

04 September 2020, EUR/USD

EURUSD trading plan:

The Institute for Supply Management said on Thursday its non-manufacturing activity index fell to a reading of 56.9 last month from 58.1 in July. A reading above 50 indicates growth in the services sector, which accounts for more than two-thirds of U.S. economic activity. The survey's index of services industry employment increased to a reading of 47.9 last month from 42.1 in July. The ISM survey's measure of new orders for the services industry dropped to a reading of 56.8 last month after surging to a record 67.7 in July. But backlog orders increased and exports orders rebounded. This is a neutral macroeconomic statistic for the U.S. currency.

Trading recommendation: range 1.1810 -1.1877

David Johnson
Analyst of «FreshForex» company
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