08.09.2015 - The trade balance of Germany supported the euro

Today, investors were pleased with the statistics on the German trade balance, the surplus is due to the growth of exports that exceeded analysts' expectations. Thus, exports grew by 2.4% to 103.4 billion euros. Experts predicted growth of only 1.0% after declining by 1.1% in the index in July. At the same time, imports rose by 2.2% to 80.6 billion. As a result, trade surplus in Europe's largest economy totaled to 22.8 billion compared to the forecast of 21.8 billion. This fact is positively displayed on the price of the euro. Our medium-term outlook for the euro remains negative despite the likelihood of a strong price movement in the coming weeks.

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