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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 22 February 2023

22 February 2023, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

S&P Global flash Composite Purchasing Managers' Index for the 20 countries that use the euro, seen as a good gauge of the bloc's overall economic health, climbed to a nine-month high of 52.3 in February from January's 50.3. Business activity in Germany, Europe's largest economy, returned to growth for the first time in eight months in February thanks to easing supply bottlenecks and improved underlying demand, its PMI showed. German investor sentiment continued on its recovery path in February, the ZEW economic research institute said. France's PMI painted a similar picture, showing activity grew this month for the first time since October, helped by a slight easing in inflationary pressures and strength in the jobs market.

Investment idea: buy 1.0640 and take profit 1.0720.

David Johnson
Analyst of «FreshForex» company
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