03 May 2022, EUR/USD
EURUSD trading plan:
Euro zone manufacturing output growth stalled last month as factories struggled to source raw materials while demand took a knock from steep price increases and fears about the economic outlook, a survey showed. S&P Global final manufacturing Purchasing Managers' Index fell to a 15-month low of 55.5 in April from March's 56.5, just above below an initial "flash" estimate of 55.3 and still comfortably above the 50 mark that separates growth from contraction. "Manufacturing output came to a near standstill across the euro zone in April," said Chris Williamson, chief business economist at S&P Global. That is likely to add pressure on the European Central Bank to tighten policy as inflation in the currency union reached 7.5% last month.
Investment idea: sell 1.0545 and take profit 1.0479.
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