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The technical recession in Germany

The technical recession in Germany | 08 November 2023

08 November 2023, EUR/USD

The technical recession in Germany

EURUSD trading plan:

German industrial production fell more than expected in September, data showed, as a recent slump in incoming orders took its toll on production. Production fell in September by 1.4% compared with the previous month, the federal statistics office said. In a less volatile quarter-on-quarter comparison, production in the third quarter of 2023 was 2.1% lower than in the second quarter, the statistics office said. Another disappointing data release in industrial production not only suggests that third-quarter GDP growth could be revised downwards, but also that the country is likely to end the year in a technical recession.

Investment idea: sell 1.0707 and take profit 1.0620.

David Johnson
Analyst of «FreshForex» company
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