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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 16 January 2023

16 January 2023, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

German economic output stagnated in the final quarter of 2022 and grew 1.9% over the full year. The full-year rise in gross domestic product reported by German statistics office Destatis. GDP in 2022 was 0.7% higher than in 2019, the year before the start of the COVID-19 pandemic. "Our economy is adaptable and robust," finance minister Christian Lindner said. Destatis president Ruth Brand said the German economy had performed well in 2022 despite the energy crisis. The main drivers of economic growth were household consumption, with a 4.6% year-on-year increase, and investment in machinery and equipment, posting a 2.5% on year rise.

Investment idea: buy 1.0810 and take profit 1.0868.

David Johnson
Analyst of «FreshForex» company
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