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Positive macroeconomic statistics from the euro area

Positive macroeconomic statistics from the euro area | 03 August 2021

03 August 2021, EUR/USD

Positive macroeconomic statistics from the euro area

EURUSD trading plan:

Manufacturers in the euro area recorded another resilient outturn in July. The sector has now recorded successive months of expansion since July 2020, with the latest reading only slightly below June’s survey record high. The sub-sector splits of the data showed sharp expansions across consumer, intermediate and investment goods makers once again in July, with the latter boasting the fastest upturn. The July survey brought further signs that manufacturers and their suppliers are struggling to raise production fast enough to meet demand, driving prices ever higher.

Investment idea: buy 1.1860 and take profit 1.1915.

David Johnson
Analyst of «FreshForex» company
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