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The barometer plunged into negative territory

The barometer plunged into negative territory | 09 May 2023

09 May 2023, EUR/USD

EURUSD trading plan:

Investor morale in the euro zone took a surprising dip in May, with stubborn inflation and energy concerns upending expectations of a spring recovery, a fresh survey showed. Sentix index for the euro zone fell to -13.1 points for May from -8.7 in April. The euro zone economy had been recovering in recent months, driven by robust demand for services, and a host of agencies from the IMF to the ECB have upgraded their forecasts for the bloc. But recent weakness, especially in manufacturing, is casting a shadow over this recovery, especially as rapid inflation is eating into households' purchasing power.

Investment idea: sell 1.1070 and take profit 1.1000.

David Johnson
Analyst of «FreshForex» company
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