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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 08 December 2022

08 December 2022, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

Eurozone gross domestic product grew by slightly more than initially estimated, data from the European statistics agency Eurostat showed, with household spending and business investment propping up the economy. Eurostat said GDP growth in the third quarter was 0.3% in the 19-country euro area in the July-September period from the previous quarter and 2.3% year-on-year, above its flash estimates of 0.2% and 2.1% published in mid-November. Household spending added 0.4 percentage points to eurozone growth and gross fixed capital formation 0.8 points. The contribution from government expenditure was negligible, while trade was a net negative of 1.1 percentage points.

Investment idea: buy 1.0465 and take profit 1.0550.

David Johnson
Analyst of «FreshForex» company
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