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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 13 April 2021

13 April 2021, EUR/USD

Negative macroeconomic statistics from the United States

EURUSD trading plan:

The U.S. government posted a March budget deficit of $660 billion, a record high for the month. The March outlays were further increased by $339 billion in direct payments of $1,400 that were sent to many individuals under Biden's American Rescue Plan Act that was enacted last month. The deficit for the first six months of the 2021 fiscal year ballooned to a record $1.706 trillion, compared to a $743 billion deficit for the comparable year-earlier period. More funding from the $1.9 trillion stimulus package will roll out in coming months likely keeping outlays elevated. This is a negative factor for the dollar.

Investment idea: buy 1.1880 and take profit 1.1930.

David Johnson
Analyst of «FreshForex» company
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