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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 25 April 2023

25 April 2023, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

German business morale rose slightly in April due to an improvement in companies' expectations, adding to positive signs as Europe's largest economy hopes to have dodged a winter recession, a fresh survey showed. The Ifo institute said its business climate index stood at 93.6 following a revised reading of 93.2 in March. The recent banking problems triggered by Credit Suisse and the bankruptcy of Silicon Valley Bank appeared not to have spilled over into the real economy. High employment should also keep supporting consumption, and unemployment is likely to fall slightly in the coming month.

Investment idea: buy 1.1020 and take profit 1.1088.

David Johnson
Analyst of «FreshForex» company
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