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Positive macroeconomic statistics from Germany

Positive macroeconomic statistics from Germany | 07 September 2020

07 September 2020, EUR/USD

EURUSD trading plan:

Orders for German industrial goods rose by a weaker-than-expected 2.8% in July, indicating an initial snap back from the coronavirus shock is fading into a slower recovery in Europe's largest economy. Order intake in July was still 8.2% lower than in February, before lockdown measures were imposed to slow the spread of the COVID-19. Domestic industrial orders fell by 10.2% on the month in July but orders from abroad were up 14.4%.Germany's response to the pandemic has been effective by European standards, keeping infection and death rates relatively low despite imposing restrictions that were both milder and shorter than in many other countries.

Trading recommendation: Buy 1.1810 and take profit 1.1840.

David Johnson
Analyst of «FreshForex» company
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