German losses

10 8月 2022, EUR/USD

German losses

EURUSD trading plan:

Germany's economy will lose more than 260 billion euros in added value by 2030 due to the Ukraine geopolitical conflict and high energy prices, spelling negative effects for the labor market, according to a study by the Institute for Employment Research. In comparison with expectations for a peaceful Europe, Germany's price-adjusted gross domestic product will be 1.7% lower next year and there will be about 240,000 fewer people in employment, said the study published. The employment level is expected to stay at around this level until 2026, when expansive measures will gradually begin to outweigh the negative effects and lead to a plus of about 60,000 gainfully employed in 2030. This is a negative signal for the European currency.

Investment idea: sell 1.0250 and take profit 1.0195.

David Johnson
Analyst of «FreshForex» company
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