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Positive macroeconomic statistics from the United States

Positive macroeconomic statistics from the United States | 08 August 2022

08 August 2022, EUR/USD

EURUSD trading plan:

U.S. job growth surged much more than expected in July and the unemployment rate ticked lower, giving the Federal Reserve enough cushion to stay on its aggressive rate hike path as it tries to tame inflation. Nonfarm payrolls increased by 528,000, the Labor Department's employment report showed on Friday. June was revised upward to show payrolls rising by 398,000 instead of the previously reported 372,000. Employers continued to raise wages at a steady pace last month. Average hourly earnings increased 0.5% in July after gaining 0.4% in June. That increased the year-on-year increase to 5.2% from 5.1% in June. This is a positive signal for the dollar.

Investment idea: sell 1.0205 and take profit 1.0115.

David Johnson
Analyst of «FreshForex» company
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