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Negative macroeconomic statistics from the Euro zone

Negative macroeconomic statistics from the Euro zone | 05 June 2019

05 June 2019, EUR/USD

Negative macroeconomic statistics from the Euro zone

EURUSD trading plan:

Negative macroeconomic statistics from the Euro zone will have a negative impact on the value of the Euro. Inflation in the 19 countries sharing the euro fell to 1.2% in May from 1.7% in April, missing expectations for 1.3%. The ECB targets inflation at just below 2% but has undershot this since 2013. The minutes of the bank's last meeting already showed growing concerns about weakening inflation expectations. The ECB will declare the need to stimulate the economy. The Central Bank will meet tomorrow. This is a negative signal for the single European currency.

Trading recommendation: Sell 1.1295 and take profit 1.1250.

David Johnson
Analyst of «FreshForex» company
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