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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 21 December 2022

21 December 2022, EUR/USD

EURUSD trading plan:

Germany's producer price index eased in November for the second month in a row, adding to signs that high inflation could be waning in Europe's largest economy as the cost of natural gas and electricity fell, according to data released. Producer prices of industrial products rose 28.2% on the same month last year compared with a 34.5% year-on-year rise in October, the Federal Statistical Office reported. Energy prices were down 9.6% on the previous month, driven mainly by easing costs for natural gas and electricity. Consequently, there is hope that the underlying upward pressure on consumer prices will also weaken soon.

Investment idea: buy 1.0585 and take profit 1.0666.

David Johnson
Analyst of «FreshForex» company
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