German Trade Balance
Earlier during the London session, the German Trade Balance, representing the balance between exports and imports of total goods and services was released by the Statistisches Bundesamt Deutschland. The forecast was of a trade surplus of €21.5B in June 2015, compared to the preceding month. However, the result was above the forecast, as the German Trade Balance posted a trade surplus of €24B. The report stated that the “exported goods to the value of 105.9 billion euros and imported goods to the value of 81.9 billion euros in June 2015”.
The foreign trade balance managed to register a surplus of 24.0 billion euros in June 2015, compared to the same month a year ago in which the surplus was of 16.2 billion euros. Furthermore, the German current account balance, which represents balances of trade in goods including supplementary trade items came in at €24.4B. It was higher when compared with the last revised reading of €11.8B.
German Industrial Production
One more important release was scheduled in Germany, as the Industrial Production highlighting outputs of the German factories and mines was published. The forecast was lined up for an increase of 0.4% in June 2015, compared with the preceding month. The outcome was lower, as the German Industrial Production declined 1.4%.
EURUSD Technical Analysis
The EURUSD pair is trading with a bullish tone, and the pair might continue trading higher. A major hurdle is around 1.0950 on the upside. On the downside, 1.0910 can be seen as a support area.
