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.