19 July 2023, EUR/USD
EURUSD trading plan:
U.S. manufacturing output dropped 0.3% last month, the Federal Reserve said. Data for May was revised down to show production at factories falling 0.2% instead of edging up 0.1% as previously reported. Production decreased 0.3% on a year-on-year basis in June. It rebounded at a 1.5% annualized rate in the second quarter after shrinking at a 0.2% pace in the January-March period. Factory output, which had also contracted in the fourth quarter, was boosted by a 36.7% surge in the production of motor vehicles and parts in the second quarter. Motor vehicle output fell 3.0% last month after rising 0.8% in May. Manufacturing output of consumer goods meant to last three years and more fell 2.7%, led by notable declines in appliances, furniture, and carpeting as well as automotive products. Production of nondurable consumer goods fell 0.9%, pulled down by clothing, energy as well as food and tobacco.
Investment idea: range 1.1150 -1.1250
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