Positive macroeconomic statistics from the United States | 27 September 2021

27 September 2021, USD/JPY

Positive macroeconomic statistics from the United States

USDJPY trading plan:

Sales of new U.S. single-family homes increased for a second straight month in August. New home sales rose 1.5% to a seasonally adjusted annual rate of 740,000 units last month. July’s sales pace was revised up to 729,000 units from the previously reported 708,000 units. The coronavirus pandemic sparked an exodus from cities as Americans worked from home and took classes online. That boosted demand for bigger homes in the suburbs and other low-density areas, which far outpaced supply, causing bidding wars. The fundamentals for the housing market remain strong. A tightening labor market is lifting wages. The new housing market remains underpinned by an acute shortage of previously owned home.

Investment idea: buy 110.20 and take profit 110.81.

David Johnson
Analyst of «FreshForex» company
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