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Positive macroeconomic statistics

Positive macroeconomic statistics | 16 March 2021

16 March 2021, EUR/USD

EURUSD trading plan:

China's factory and retail sector activity surged in the first two months of the year, beating expectations, as the economy consolidated its brisk recovery from the COVID-19 paralysis of early 2020. Industrial output rose 35.1% in the first two months from a year earlier, up from a 7.3% on-year uptick seen in December, data from the National Bureau of Statistics showed. Retail sales increased 33.8%, also faster than a forecast 32% rise and marking a significant jump from 4.6% growth in December and a 20.5% contraction for January-February of 2020. This is a positive signal for the European currency! The China economy grew 2.3% in 2020 and is forecast to expand 8.4% in 2021.

Investment idea: buy 1.1915 and take profit 1.1964.

David Johnson
Analyst of «FreshForex» company
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