EURUSD – Up
EURUSD trading plan:
New orders for U.S.-manufactured capital goods increased in July, but the pace slowed from the prior month, suggesting a moderate rebound in business spending this quarter. The report from the Commerce Department on Wednesday also showed solid gains in shipments of these goods. While part of the rise was because businesses are spending more due to higher prices, the data was another sign that the economy continues to grow at a slow pace and was not in recession. The report added to data on retail sales, industrial production and the labor market in underscoring the economy’s resilience. Orders are slowing as the Federal Reserve’s aggressive monetary policy campaign to fight inflation dampens demand.
Investment idea: sell 1.0040 and take profit 0.9955.
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