Positive macroeconomic statistics from China | 04 ديسمبر 2019

EURUSD trading plan:

Positive macroeconomic statistics from China will have a positive impact on the value of the Euro. Activity in China's services sector accelerated to a seven-month high in November, as new business, especially new export business, picked up. The Markit services purchasing managers' index rose to 53.5 last month, the quickest pace since April, from 51.1 in October. It has stayed above the 50-point margin that separates growth from contraction on a monthly basis since late 2005. Beijing has been counting on the services sector, which accounts for more than half of China's economy, to partly offset sluggish domestic and global demand for manufactured products.

Trading recommendation: Buy 1.1064 and take profit 1.1091.

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