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The spending shifts back to services

The spending shifts back to services | 03 Juni 2022

03 Juni 2022, USD/JPY

The spending shifts back to services

USDJPY trading plan:

The U.S. Commerce Department said that factory orders rose 0.3% in April after advancing 1.8% in March. Manufacturing, which accounts for 12% of the U.S. economy, is being pinned by still strong demand for goods even as spending shifts back to services. Shipments of these so-called core capital goods, which are used to calculate business equipment spending in the gross domestic product report, advanced 0.8% in April as reported last month. Robust business spending on equipment helped to shore up domestic demand in the first quarter, even as GDP contracted at a 1.5% annualized rate during that period.

Investment idea: range 129.45 -130.35.

David Johnson
Analyst of «FreshForex» company
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