Euro tries to maintain a growing momentum
10.12.2014
The single European currency continues to joyfully celebrate any good news and is upset from the not too positive ones. Yesterday the positivity in the euro/dollar still prevailed.
Germany reported an increase in the trade surplus of the country in October to 20.6 billion euro amid a steady reduction in imports (-3.1%). Exports, in turn, decreased by 0.5%. At the same time, exports to European countries increased by 6.3% y/y.
In September, the balance was estimated at 18.6 billion euro.
Why is this figure so important and why was the market reaction to it so pronounced? The growth of trade surplus is a direct indicator of the welfare of the economy. The country reduces dependence on imports and engages in self-sufficiency, while controlling the export parameters.
The euro/dollar is very sensitive to the statistics. Most likely, the next trading session will be able to consolidate in the range, as investors will be looking for a new foothold.
RoboForex Analytical Department
Germany reported an increase in the trade surplus of the country in October to 20.6 billion euro amid a steady reduction in imports (-3.1%). Exports, in turn, decreased by 0.5%. At the same time, exports to European countries increased by 6.3% y/y.
In September, the balance was estimated at 18.6 billion euro.
Why is this figure so important and why was the market reaction to it so pronounced? The growth of trade surplus is a direct indicator of the welfare of the economy. The country reduces dependence on imports and engages in self-sufficiency, while controlling the export parameters.
The euro/dollar is very sensitive to the statistics. Most likely, the next trading session will be able to consolidate in the range, as investors will be looking for a new foothold.
RoboForex Analytical Department
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Forecasts presented in this section only reflect the author’s private opinion and should not be considered as guidance for trading. RoboForex bears no responsibility for trading results based on trading recommendations described in these analytical reviews.