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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 24 March 2022

24 March 2022, USD/JPY

Negative macroeconomic statistics from the United States

USDJPY trading plan:

Sales of new U.S. homes fell in February for a second month, suggesting high prices and rising mortgage rates may be keeping prospective buyers on the sidelines. Purchases of new single-family homes decreased 2% to a 772,000 annualized pace following a downwardly revised 788,000 in January, government data showed. The drop in sales suggests buyers are shying away from the market amid high home prices and rising mortgage rates as the Federal Reserve tightens policy. A recent report showed a measure of homebuilders’ sales expectations for the next six months slumped in March to the lowest since June 2020 amid growing concerns over the combination of rising construction costs and higher interest rates.

Investment idea: sell 121.70 and take profit 121.05.

David Johnson
Analyst of «FreshForex» company
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