Correlation between USDJPY and stock markets | 28 tháng tư 2022

28 tháng tư 2022, USD/JPY

USDJPY trading plan:

The U.S. trade deficit in goods widened to a record high in March. The data prompted economists to downgrade their already low GDP growth estimates for the first quarter to show the economy barely growing or even contracting. The goods trade deficit jumped 17.8% to an all-time high of $125.3 billion. The increase likely reflected both higher volumes and prices. Imports of goods accelerated 11.5% to $294.6 billion. Imports of consumer goods vaulted 13.6%, while those of motor vehicles increased 12.0%. There were also solid gains in imports of food and capital goods. The surge in imports is being driven by businesses replenishing inventories amid strong domestic demand. Wholesale inventories rose 2.3% in March after shooting up 2.6% in February. This is a bad signal for the stock market and USDJPY, which has a correlation with the shares.

Investment idea: sell 130.75 and take profit 130.00.

David Johnson
Analyst of «FreshForex» company
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