25 August 2020, EUR/USD
EURUSD trading plan:
Germany's economic output fell by a record 9.7% in the second quarter of 2020 at the height of the Covid-19 pandemic, the latest economic figures showed Tuesday, an improvement on the original release showing a drop of 10.1%. The economic slump was much stronger than during the financial crisis more than a decade ago, and it represented the sharpest decline since Germany began to record quarterly GDP calculations in 1970, the office said. Consumer spending shrank by 10.9% on the quarter, capital investments by 19.6% and exports by 20.3%, seasonally adjusted data showed. Construction activity, normally a consistent growth driver for the German economy, fell by 4.2% on the quarter.
Trading recommendation: range 1.1775 -1.1850.
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