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Negative macroeconomic statistics from Germany

Negative macroeconomic statistics from Germany | 11 July 2023

11 July 2023, EUR/USD

EURUSD trading plan:

German inflation rose in June, interrupting a steady decline since the start of the year. German consumer prices, harmonised to compare with other European Union countries, increased by 6.8% on the year in June, the federal statistics office said. The year-on-year rebound in German inflation midway through the second quarter is almost exclusively due to base effects from last year's fuel discount and a temporarily reduced rail fare. Germany's core inflation rate, which excludes volatile items such as food and energy, stood at 5.8% in June, up from 5.4% in May.

Investment idea: sell 1.1010 and take profit 1.0920.

David Johnson
Analyst of «FreshForex» company
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