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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 16 November 2022

16 November 2022, EUR/USD

EURUSD trading plan:

Euro zone gross domestic product grew by 0.2% quarter-on-quarter in the July-September period for a 2.1% year-on-year increase, Eurostat confirmed, while employment in the single currency area also rose. Eurostat said employment in the 19 countries sharing the euro also increased by 0.2% quarter-on-quarter in the third quarter for a 1.7% year-on-year rise. The European Commission expects the economy to shrink in the fourth quarter of 2022 and in the first three months of 2023 because of surging energy prices and rising interest rates which undermine spending and borrowing power and confidence.

Investment idea: buy 1.0340 and take profit 1.0440.

David Johnson
Analyst of «FreshForex» company
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