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Positive macroeconomic statistics from Europe

Positive macroeconomic statistics from Europe | 24 November 2022

24 November 2022, EUR/USD

Positive macroeconomic statistics from Europe

EURUSD trading plan:

The downturn in euro zone business activity eased slightly in November offering a glimmer of hope the expected recession may be shallower than feared, but consumers still cut spending amid a cost of living crisis, a fresh survey showed. S&P Global flash Composite Purchasing Managers' Index (PMI), seen as a good gauge of overall economic health, nudged up to 47.8 from 47.3 in October. The downturn in German economic activity also eased in November, a sister survey showed, offering some hope an expected recession in Europe's largest economy could be milder than first feared.

Investment idea: buy 1.0375 and take profit 1.0440.

David Johnson
Analyst of «FreshForex» company
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