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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 08 Marzo 2021

08 Marzo 2021, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

Orders for German-made goods rose by twice as much as expected in January as robust foreign demand more than offset domestic weakness to buoy manufacturers in Europe's largest economy. The data published by the Federal Statistics Offices showed orders for industrial goods rose on the month by 1.4% in seasonally adjusted terms. Higher demand from China, the United States and Europe drove growth in German factory activity to its highest level in more than three years in February, brightening the outlook for the economy. This is a positive signal for the European currency.

Investment idea: buy 1.1900 and take profit 1.1970.

David Johnson
Analyst of «FreshForex» company
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