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Negative macroeconomic statistics from Germany

Negative macroeconomic statistics from Germany | 07 October 2022

07 October 2022, EUR/USD

EURUSD trading plan:

German industrial orders dropped more than expected in August, dragged down by a fall in orders from the eurozone, where companies are battling with energy and inflation crises, data fresh showed. New orders in manufacturing fell by 2.4% month on month on a seasonally and calendar adjusted basis, the federal statistics office said. Analysts had predicted a less severe 0.7% drop. Domestic industrial orders fell by 3.4% and those from the eurozone by 3.8%, according to the data. High energy prices on the European continent are leading to restrained ordering behaviour on the part of local industry.

Investment idea: sell 0.9803 and take profit 0.9749.

David Johnson
Analyst of «FreshForex» company
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