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Negative macroeconomic statistics from Germany

Negative macroeconomic statistics from Germany | 21 October 2022

21 October 2022, EUR/USD

Negative macroeconomic statistics from Germany

EURUSD trading plan:

German producer prices rose more than expected in September, maintaining the previous month's record pace as energy prices soared, according to data released. Producer prices of industrial products rose 45.8% on the same month last year, the Federal Statistical Office reported, compared with economists' expectations for the rate of increase to ease to 44.7%. Compared to August 2022, prices rose 2.3%, which was also above consensus for 1.3%. This is a negative signal for the European currency.

Investment idea: sell 0.9834 and take profit 0.9750.

David Johnson
Analyst of «FreshForex» company
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