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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 01 June 2021

01 June 2021, EUR/USD

Positive macroeconomic statistics from Germany

EURUSD trading plan:

Strong demand kept German factories humming in May. IHS Markit's Final Purchasing Managers' Index for manufacturing, which accounts for about a fifth of the economy, reached 64.4%. Factories in Europe's biggest economy have been humming along during the pandemic almost undisturbed by lockdowns that have impacted the services sector. Activity accelerated early this year on strong demand from the United States and China. The survey also found that activity expectations for the year ahead remained close to record high levels and manufacturers were hiring at a faster pace to meet rising demand.

Investment idea: buy 1.2192 and take profit 1.2241.

David Johnson
Analyst of «FreshForex» company
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