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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 18 January 2023

18 January 2023, EUR/USD

EURUSD trading plan:

German investor sentiment was in positive territory in January for the first time since the Ukraine geopolitical tensions began as signs point to a milder recession over the winter months than initially feared, the ZEW economic research institute. The institute's economic sentiment index rose to 16.9 from minus 23.3 in December. Economy Minister Robert Habeck said in an interview with broadcaster Welt TV he expects Germany to avoid a recession, while the BDI industry association forecast a 0.3% contraction this year. The prospect of easing inflation lifted expectations for consumer-related sectors while the lifting of COVID-19 restrictions in China has brightened the picture for export-oriented and energy-intensive sectors, he added.

Investment idea: buy 1.0759 and take profit 1.0845.

David Johnson
Analyst of «FreshForex» company
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