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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 24 September 2020

24 September 2020, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

German business morale improved for the fifth month in a row in September, a survey showed on Thursday, in a further sign that Europe's largest economy is enjoying a solid recovery from the coronavirus shock. The Ifo institute said its business climate index rose to 93.4 from a downwardly revised 92.5 in August. This was the highest reading since February when the index stood at 95.9. "The German economy is stabilizing despite rising infection numbers," Ifo President Clemens Fuest said in a statement, adding that companies once again assessed their current business situation as better than in the previous month.

Trading recommendation: Buy 1.1644 and take profit 1.1688.

David Johnson
Analyst of «FreshForex» company
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