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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 07 October 2020

07 October 2020, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

Negative macroeconomic statistics from the United States will have a positive impact on the value of the Euro. The Commerce Department said on Tuesday the trade deficit jumped 5.9% to $67.1 billion, the widest since August 2006. Imports increased by 3.2% to $239 billion. Goods imports rose $6.5 billion to $203 billion. Exports increased 2.2% to $171.9 billion. Goods exports rose $3.5 billion to $119.1 billion. The closely watched trade deficit with China decreased $1.9 billion to $26.4 billion in August. The coronarivus crisis severely disrupted trade flow.

Trading recommendation: Buy 1.1740 and take profit 1.1785.

David Johnson
Analyst of «FreshForex» company
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