Negative macroeconomic statistics from the EU | 21 March 2022

21 March 2022, EUR/USD

Negative macroeconomic statistics from the EU

EURUSD trading plan:

The euro zone's trade balance was in deficit for the third consecutive month in January as surging energy prices led to a sharp increase in the value of imports. Eurostat said the non-adjusted trade deficit of the 19 countries sharing the euro was 27.2 billion euros. Payments for imports jumped by 44.3% year-on-year, while revenues from exports grew by only 18.9%. Euro zone trade is rarely in deficit, but this was the third consecutive month of shortfall, and a substantially larger figure than in the previous two months. The euro zone last had a negative trade balance in January 2014 and last experienced deficits of more than one month in 2011. Germany's trade surplus fell by 78% from January 2021, France's deficit deepened, while Italy turned from surplus to deficit.

Investment idea: sell 1.1088 and take profit 1.1000.

David Johnson
Analyst of «FreshForex» company
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