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The prospect of imminent global recession

The prospect of imminent global recession | 17 January 2023

17 January 2023, EUR/USD

EURUSD trading plan:

The prospect of imminent global recession cast a long shadow over Davos as participants gathering for the opening of the World Economic Forum's annual meeting counted the likely cost for their economies and businesses. Two-thirds of private and public sector chief economists surveyed by the WEF expect a global recession this year, with some 18% considering it "extremely likely" - more than twice as many as in the previous survey conducted in September 2022. The World Bank last week slashed its 2023 growth forecasts to levels close to recession for many countries as the impact of central bank rate hikes intensifies.

Investment idea: range 1.0760 - 1.0860.

David Johnson
Analyst of «FreshForex» company
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