Categories: Fundamental Analysis

Euro Surges Higher as German Trade Exceeded Forecast

Euro gained bids against the US dollar today, as a couple of economic releases in the Euro Zone helped the shared currency.

German Trade Balance report released by the Statistisches Bundesamt Deutschland recorded a trade surplus of €24B in June 2015 whereas the markets’ expectation was of €21.5B.

German Industrial Production was also released today, which posted a decline of 1.4% in June 2015, compared with the forecast of a 0.4% rise.

EURUSD climbed higher and traded towards 1.0950 after the economic releases.

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.

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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.

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Vladimir Ribakov

Following 11+ years of trading experience, trading my own accounts as well as for hedge funds and brokerages, I have decided to fulfill my destiny and to personally mentor Forex and Commodities traders. When I released the “Broker Nightmare” (software that hides trades from brokers) 8 years ago, I found an overwhelming number of frustrated people who genuinely wanted to learn how to trade the Forex market, but instead found themselves scammed and misled. Over the years I have also release other trading systems based on my trading strategies, and met a lot of people on my worldwide Forex seminars. We’ve formed a close Forex community and we meet once or twice a year in various locations in Europe.