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Germany has little chance of economic growth

Germany has little chance of economic growth | 27 September 2023

27 September 2023, EUR/USD

Germany has little chance of economic growth

EURUSD trading plan:

Sentiment among German consumers is set to fall in October, as persistently high inflation encourages people to save and blots out the chances of a recovery before the end of the year, a GfK institute survey. The institute's consumer sentiment index fell to -26.5 heading into October from a slightly revised -25.6 in September. The slight decrease for a second month in a row was due primarily to a jump in consumers' propensity to save, which hit 8.0 points in September - its highest since April 2011 - after a reading of only 0.5 a month earlier, according to GfK.

Investment idea: sell 1.0590 and take profit 1.0535.

David Johnson
Analyst of «FreshForex» company
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