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Negative macroeconomic statistics from Germany

Negative macroeconomic statistics from Germany | 29 March 2022

29 March 2022, EUR/USD

EURUSD trading plan:

The GfK institute said its consumer sentiment index, based on a survey of around 2,000 Germans, tumbled to -15.5 points heading into April from a revised -8.5 points a month earlier, the lowest since February 2021. Energy prices have suffered the most from rising uncertainty and sanctions against Russia, Buerkl said, adding that longer-term recovery of German consumer morale would only be possible in case of a rapid ceasefire followed by peace negotiations. "Domestic economy would then significantly contribute to overall economic development again as a result of declining uncertainty, and the easing of pandemic-related restrictions would also be able to have its positive effect," GfK consumer expert Rolf Buerkl said in a statement.

Investment idea: sell 1.1010 and take profit 1.0960.

David Johnson
Analyst of «FreshForex» company
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