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Negative macroeconomic statistics from the eurozone

Negative macroeconomic statistics from the eurozone | 25 October 2022

25 October 2022, EUR/USD

Negative macroeconomic statistics from the eurozone

EURUSD trading plan:

The euro zone is likely entering a recession with business activity contracting at the fastest pace in nearly two years this month as the cost-of-living crisis keeps consumers cautious and saps demand, a survey showed. S&P Global's eurozone flash composite Purchasing Managers' Index, seen as a good guide to overall economic health, fell to 47.1 from 48.1 in September. The flash PMIs for October provide yet more evidence that the euro zone is sliding into quite a deep recession but that inflationary pressures remain intenseю.

Investment idea: sell 0.9930 and take profit 0.9870.

David Johnson
Analyst of «FreshForex» company
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