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Positive macroeconomic statistics from China

Positive macroeconomic statistics from China | 26 Maret 2021

26 Maret 2021, EUR/USD

EURUSD trading plan:

China’s economic rebound continued in March, as factory activities accelerated amid strong global orders and recovering domestic demand, leading to a surge in producer prices. A boom in exports across Asia looks set to continue and will support industrial output, with the global shortage of chips helping gains in March. South Korea’s exports rose 12.5% in the first 20 days of the month from the same period last year, driven by higher demand for chips and cars. Activity picked up at China’s small and medium-sized enterprises, especially those in the manufacturing sector, a survey of over 500 SMEs by Standard Chartered. This is a positive signal for the EURUSD.

Investment idea: buy 1.1770 and take profit 1.1830.

David Johnson
Analyst of «FreshForex» company
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