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Negative statistics from Germany

Negative statistics from Germany | 31 October 2023

31 October 2023, EUR/USD

EURUSD trading plan:

Inflation in Germany eased noticeably in October, falling to its lowest level since August 2021, pointing to a substantial cooling in headline inflation in the euro zone. German inflation eased in October to 3.0%, the federal statistics office said. German consumer prices, harmonised to compare with other European Union countries, had risen by 4.3% year-on-year in September. Core inflation, which excludes volatile food and energy prices, fell to 4.3% in October from 4.6% in the previous month. This is a negative signal for the European currency.

Investment idea: sell 1.0650 and take profit 1.0550.

David Johnson
Analyst of «FreshForex» company
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