German retail sales rose sharply in May | 02 Julio 2020

EURUSD trading plan:

Good news and bad news. German retail sales rose sharply in May as Germany lifted restrictions imposed to stop the spread of the COVID-19. Retail sales rose by 13.9% on the month in real terms after a downwardly revised drop of 6.5% in April, data from the Federal Statistics Office showed. Online sales rose by 28.7% in real terms while clothing and shoes sales fell by more than 22%.This is a positive signal for the European economy! U.S. manufacturing activity rebounded in June, hitting its highest level in more than a year. The Institute for Supply Management said its index of national factory activity jumped to a reading of 52.6 last month from 43.1 in May. The rebound in the ISM index was in tandem with improvements in regional manufacturing surveys and added to data on job growth, consumer spending and the housing market in suggesting.

Trading recommendation: range 1.1220 -1.1300.