The rising inflationary pressures | 04 اكتوبر 2022

EURUSD trading plan:

Manufacturing activity across the euro zone declined further last month as a growing cost of living crisis kept consumers wary while soaring energy bills limited production, a survey showed. S&P Global final manufacturing Purchasing Managers' Index fell to a 27-month low of 48.4 in September from August's 49.6, just below a preliminary reading of 48.5 and further below the 50 mark separating growth from contraction. An index measuring output, which feeds into a composite PMI due and seen as a good guide to economic health, dropped to 46.3 from 46.5, marking its fourth month of sub-50 readings.

Investment idea: sell 0.9935 and take profit 0.9865.