Exports slow German economy | 03 Noviembre 2023
03 Noviembre 2023, EUR/USD
EURUSD trading plan:
German exports fell more than expected on the month in September, federal statistics office data showed, as weak global demand hurt exports. German exports fell 2.4% in September from the previous month. Trade is no longer the strong resilient growth driver of the German economy that it used to be, but rather a drag. Net exports have been a drag on the economy in four out of six quarters. Supply chain frictions, a more fragmented global economy and China moving from a dynamic export destination to competitor are all factors weighing on the German export sector.
Investment idea: sell 1.0650 and take profit 1.0560.
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