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Negative macroeconomic statistics from Europe

Negative macroeconomic statistics from Europe | 03 October 2022

03 October 2022, EUR/USD

Negative macroeconomic statistics from Europe

EURUSD trading plan:

Euro zone inflation zoomed past forecasts to hit 10.0% in September, a new record high that will reinforce expectations for another jumbo interest rate hike next month from the European Central Bank. Price growth in the 19 countries sharing the euro accelerated from August's 9.1%, data from Eurostat showed on Friday, beating expectations for a reading of 9.7%, with some euro zone members experiencing the fastest price growth since the time of the Korean War 70 years ago. Inflation was still driven mainly by volatile energy and food prices but continued to broaden out, with virtually all categories, from services to industrial goods, now showing painfully high readings.

Investment idea: sell 0.9853 and take profit 0.9765.

David Johnson
Analyst of «FreshForex» company
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