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Positive macroeconomic statistics from China

Positive macroeconomic statistics from China | 07 May 2020

07 May 2020, EUR/USD

Positive macroeconomic statistics from China

EURUSD trading plan:

China's exports unexpectedly rose in April for the first time this year as factories raced to make up for lost sales due to the COVID-19 shock. This is a positive signal for the European currency! Overseas shipments in April rose 3.5% from a year earlier, marking the first positive growth since December last year, customs data showed. Traders also attributed the rise in exports to factory closures elsewhere, leading to a surge in import demand, just as China's manufacturers reopened after extended shutdowns due to the virus outbreak.

Trading recommendation: Buy 1.0790 and take profit 1.0845.

David Johnson
Analyst of «FreshForex» company
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