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Negative macroeconomic statistics from the United States

Negative macroeconomic statistics from the United States | 20 April 2020

20 April 2020, USD/JPY

Negative macroeconomic statistics from the United States

USDJPY trading plan:

The Conference Board said its index of leading economic indicators tumbled 6.7% last month, the largest decrease in the series' 60-year history. Data for February was revised down to show the index falling 0.2% instead of gaining 0.1% as previously reported. "The sharp drop in the LEI reflects the sudden halting in business activity as a result of the global pandemic and suggests the U.S. economy will be facing a very deep contraction," said Ataman Ozyildirim, senior director of economic research at The Conference Board in Washington.

Trading recommendation: Sell 107.80 and take profit 107.30.

David Johnson
Analyst of «FreshForex» company
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