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Negative macroeconomic statistics from the euro-zone

Negative macroeconomic statistics from the euro-zone | 20 Agosto 2019

20 Agosto 2019, EUR/USD

Negative macroeconomic statistics from the euro-zone

EURUSD trading plan:

Negative macroeconomic statistics from the euro-zone signal a decline in the euro. Eurostat revised its July estimate for consumer price growth to 1%, down from a reading of 1.1% reported on July 31. It’s the second consecutive revision to inflation data. Concerns about a global downturn are deepening, as Germany’s economy shrank in the second quarter while growth in the 19-nation region came in at just 0.2%.The ECB is already expected to announce fresh measures to jump-start the euro-zone economy when policy makers meet on Sept. 12. The down in the value of gold will have a negative impact on the euro, as both assets are correlated.

Trading recommendation: Sell 1.1113 and take profit 1.1170.

David Johnson
Analyst of «FreshForex» company
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