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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 24 April 2023

24 April 2023, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

German business activity expanded for a third month running in April, boosted by a services sector revival that more than offset a manufacturing decline in Europe's largest economy, a preliminary fresh survey showed. April was the third month in a row that the indicator was above the 50 level that marks growth in activity, after seven consecutive months below the threshold. The index tracks the services and manufacturing sectors which together account for more than two-thirds of Germany's economy. The services sector posted growth for the fourth month running supported by rising demand, with the services PMI reading rising to 55.7 in April from 53.7 in March.

Investment idea: buy 1.0965 and take profit 1.1033.

David Johnson
Analyst of «FreshForex» company
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