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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 04 May 2023

04 May 2023, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

Euro zone unemployment rate fell to 6.5% in March, the European Union's statistics office Eurostat said, a decline that points to a further tightening of the labour market a spell more trouble for the European Central Bank in fighting inflation. The March unemployment rate in the 20 countries using the euro is lower than expected by traders. Eurostat said the number of people without jobs fell to 11.01 million in March from 11.131 mln in February. The tightest labour market was in Germany, where the jobless rate fell to 2.8% of the workforce from 2.9% in February, which is likely to have helped German trade unions negotiate substantial pay rises.

Investment idea: buy 1.1060 and take profit 1.1133.

David Johnson
Analyst of «FreshForex» company
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