Negative macroeconomic statistics from Europe | 30 Agosto 2023

EURUSD trading plan:

Euro zone economic sentiment was weaker than expected in August, continuing a steady decline since the start of the year and inflation expectations among consumers rose, reversing a four-month falling trend, fresh survey data showed. The European Commission's monthly economic sentiment survey showed the index falling to 93.3 in August from 93.5 in July, defying market expectations of a minor uptick to 93.7. Optimism in industry deteriorated to -10.3 from -9.3 in July, more than the -9.9 expected by economists and sentiment in services, the euro zone's biggest contributor to its gross domestic product, fell to 3.9 from 5.4 in July, more than the 4.2 expected by markets.

Investment idea: sell 1.0907 and take profit 1.0790.