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The German economy is facing recession

The German economy is facing recession | 27 September 2022

27 September 2022, EUR/USD

The German economy is facing recession

EURUSD trading plan:

The German economy is facing recession and almost all sectors are in the red, the Ifo surveys head Klaus Wohlrabe told. Energy intensive industries are particularly pessimistic about the coming months and nearly two thirds of companies are concerned about supply bottlenecks, he said. Sentiment among German exporters fell in September to its lowest since the early stages of the COVID-19 pandemic as the slowing global economy dampens any expectations of growth in the medium term, the Ifo economic institute said. Export expectations dropped to -6.0 in September from -2.8 in August, the lowest since May 2020, it said.

Investment idea: sell 0.9670 and take profit 0.9615.

David Johnson
Analyst of «FreshForex» company
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