Positive macroeconomic statistics from Germany | 05 Abril 2023
05 Abril 2023, EUR/USD
EURUSD trading plan:
Germany is expected to narrowly escape recession and post modest growth in the first quarter of the year, according to the forecasts of leading economic institutes published. For 2023 as a whole, they expect the German economy to grow 0.3%, up from a predicted contraction of 0.4% in autumn. The economic institutes predict an inflation rate of 6.0% in 2023, before it slows to 2.4% in 2024. They forecast that unemployment will be at 5.4% this year and at 5.3% in 2024. The impact of the weakening of the economy during the winter on the labour market will be limited.
Investment idea: buy 1.0909 and take profit 1.0974.
The author's opinion reflects their personal view and is not an investment recommendation. The company is not responsible for any trading results based on the provided analytical data.
