04 January 2022, EUR/USD
EURUSD trading plan:
Supply bottlenecks held back German manufacturing activity in December. IHS Markit's Final Purchasing Managers' Index for manufacturing, which accounts for about a fifth of the economy, was unchanged at 57.4, slightly lower than a flash reading of 57.9. The outlook for factories in Europe's biggest economy has been clouded by shortages of semiconductors and raw materials, affecting the German auto industry in particular. The shortages, coupled with rising energy prices, have forced manufacturers to pass the added costs on to consumers, raising fears of an inflation spiral that dampens both consumption and growth.
Investment idea: sell 1.1330 and take profit 1.1272.
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