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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 28 March 2023

28 March 2023, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

German business morale unexpectedly rose in March, adding to signs that Europe's largest economy is stabilizing despite recent turmoil in the banking sector, a fresh survey showed. The Ifo institute said its business climate index jumped to 93.3 from a reading of 91.1 in February. The improvement in business morale for the fifth month in a row was driven primarily by business expectations, which rose to 91.2 in March from a revised 88.4 the month before, its highest level in at least a year, according to Ifo. Despite the turbulence in the financial markets, the German economy is starting spring with a good feeling.

Investment idea: buy 1.0777 and take profit 1.0850.

David Johnson
Analyst of «FreshForex» company
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