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Negative macroeconomic statistics from Germany

Negative macroeconomic statistics from Germany | 10 October 2022

10 October 2022, EUR/USD

EURUSD trading plan:

German industrial production contracted in August, official data showed on Friday, as supply bottlenecks remain due to ongoing pandemic-related distortions. Industrial output fell by 0.8% on the previous month, the Federal Statistical Office said. The inflation's tightening stranglehold on the German economy. Import prices for energy were up 162.4% in August compared with the same month in 2021, with prices of natural gas up a whopping 306.3% year-on-year. That is disrupting activity in an industrial sector already grappling with supply chain problems and pushing up costs for retailers, which are struggling to pass them on to cash-strapped shoppers.

Investment idea: sell 0.9744 and take profit 0.9675.

David Johnson
Analyst of «FreshForex» company
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