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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 27 October 2022

27 October 2022, EUR/USD

EURUSD trading plan:

Sentiment among German exporters increased slightly in October, although the overall situation remained difficult due to tense energy markets and a weak global economic environment, the Ifo institute said. Only the beverage industry and electronic equipment makers were expecting significant growth, the survey showed. Carmakers, by contrast, did not expect any growth in their foreign businesses. High energy sectors including chemicals, glassware and metal production remained in a difficult situation. New orders from abroad came in rather slowly due to the uncertainty, the Ifo said.

Investment idea: buy 1.0034 and take profit 1.0090.

David Johnson
Analyst of «FreshForex» company
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