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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 21 December 2020

21 December 2020, USD/JPY

USDJPY trading plan:

The U.S. Commerce Department said the current account deficit, which measures the flow of goods, services and investments into and out of the country, widened 10.6% to $178.5 billion last quarter. The U.S. current account deficit surged to its highest level in more than 12 years in the third quarter as a record rebound in consumer spending pulled in imports, outpacing a recovery in exports. Imports of goods increased $94.4 billion to $602.7 billion. The broad rise in response to pent-up demand following the easing of business restrictions to slow the spread of COVID-19, was led by imports of passenger cars. This is a negative macroeconomic statistics for the dollar.

Investment idea: Sell 103.70 and take profit 103.30.

David Johnson
Analyst of «FreshForex» company
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