25 Mei 2023, EUR/USD
EURUSD trading plan:
The German economy contracted slightly in the first quarter of 2023 compared with the previous three months, thereby entering recession, data from the statistics office showed. Gross domestic product fell by 0.3% for the quarter when adjusted for price and calendar effects, the data showed. This follows a decline of 0.5% in the fourth quarter of 2022. A recession is commonly defined as two successive quarters of contraction. A preliminary estimate had shown GDP stagnating in the first quarter and Germany skirting a recession. Inflation continued to be a burden on the German economy at the start of the year, the statistics office said. This was reflected in household consumption, which was down 1.2% quarter-on-quarter after price, seasonal and calendar adjustments.
Investment idea: range 1.0700 - 1.0785.
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