Positive macroeconomic statistics from Europe | 04 May 2021

04 May 2021, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

Euro zone factory activity growth surged to a record high in April, boosted by burgeoning demand and driving a rise in hiring. IHS Markit's final Manufacturing Purchasing Managers' Index rose to 62.9 in April from March's 62.5, albeit below the initial 63.3 "flash" estimate but the highest reading since the survey began in June 1997. French manufacturing growth eased off a little from March's peak as bottlenecks weighed on the recovery but Italian factory activity grew at its fastest rate on record, sister surveys showed. German factories have been humming along during the pandemic, almost undisturbed by the related lockdowns, and activity accelerated in Europe's biggest economy early this year on strong demand from the United States and China.

Investment idea: buy 1.2020 and take profit 1.2080.

David Johnson
Analyst of «FreshForex» company
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