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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 07 April 2023

07 April 2023, EUR/USD

EURUSD trading plan:

German industrial production rose significantly more than expected in February due in part to vehicle manufacturing, increasing 2.0% on the previous month, the federal statistical office said. German industry seems to have woken up from hibernation. A high backlog of orders, lower energy prices and easing supply constraints should continue to support production. Production expanded in most economic sectors in February but manufacturing of motor vehicles, Germany’s largest industrial sector, accounted for a particularly large share of the increase, posting a 7.6% increase month-on-month.

Investment idea: buy 1.0899 and take profit 1.0947.

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David Johnson
Analyst of «FreshForex» company
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