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The EU economy will grow more slowly

The EU economy will grow more slowly | 25 March 2022

25 March 2022, EUR/USD

The EU economy will grow more slowly

EURUSD trading plan:

Euro zone business growth was stronger than expected this month, a survey showed, although prices rose at a record pace, likely adding to pressure on the European Central Bank to raise interest rates. Flash Composite Purchasing Managers' Index, seen as a good gauge of overall economic health, slipped to 54.5 in March from 55.5 in February although it was comfortably above the median 53.9 forecast. Activity in Germany, Europe's largest economy, dipped this month as output price inflation hit a new record high and the war in Ukraine impacted demand as well as supply chains, earlier data showed. But French business activity accelerated unexpectedly to an eight-month high as easier COVID restrictions boosted the service sector and eclipsed concerns about the Ukraine crisis' impact on manufacturing.

Investment idea: range 1.0975 -1.1055.

David Johnson
Analyst of «FreshForex» company
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