09.09.2016 - Trade data in Germany disappointed investors
Today in Germany was published weak data on the trade balance of the country, which surplus totaled 19.4 billion euros vs. expected 21.2 billion euros. It is worth noting that in July exports unexpectedly fell by 2.6%. At the same time, the volume of imports fell by 0.7%, indicating that the negative trends in Europe's largest economy. Our medium-term outlook for the euro remains negative on the background of the expected growth of the US dollar and we expect a decline in the euro to levels 1.0700 and 1.0550 in the near future.