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Negative macroeconomic statistics from Europe

Negative macroeconomic statistics from Europe | 24 March 2022

24 March 2022, EUR/USD

Negative macroeconomic statistics from Europe

EURUSD trading plan:

German growth will be weaker than expected this year due to the effects geopolitical tensions in Eastern Europe which will also push up inflation in Europe's biggest economy, the Ifo institute said. "We expect growth of only between 2.2% and 3.1% this year," Ifo's chief economist Timo Wollmershaeuser said in a statement. In December, Ifo had forecast 3.7% growth. The German government most recently forecast 2022 growth of 3.6%, up from 2.9% last year. At the same time, Ifo said full order books for industry and the normalization of the COVID-19 pandemic are likely to boost the economy in the longer run.

Investment idea: sell 1.1000 and take profit 1.0930.

David Johnson
Analyst of «FreshForex» company
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