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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 01 October 2020

01 October 2020, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

The euro zone manufacturing recovery gathered pace last month, largely driven by strength in Germany, as the region's factories saw a surge in demand after some COVID-19 restrictions were relaxed, a Markit survey showed. IHS Markit's final Manufacturing Purchasing Managers' Index climbed to 53.7 in September from August's 51.7, in line with an earlier flash reading and its highest level since August 2018. Anything above 50 indicates growth. "The euro zone's manufacturing recovery gained further momentum in September, rounding off the largest quarterly rise in production since the opening months of 2018," said Chris Williamson, chief business economist at IHS Markit.

Trading recommendation: Buy 1.1710 and take profit 1.1750.

David Johnson
Analyst of «FreshForex» company
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