Trade Desk Thoughts - German Trade Balance

German Trade Balance Actual 13.1B, Expected 12.0B, Previous 11.6B (revised from 11.8B)

Release Explanation: The trade balance measures the country's exports minus its imports; the largest component of a country's balance of payments. An increase or decrease in the Trade Balance will help determine the future economic outlook and growth numbers in a region. It can impact all aspects of an economy as it is the way that region balances its books.

Trade Desk Thoughts: The German trade balance recorded a 13.1B surplus in August, beating market expectations. The previous number, released for the month of July was revised to 11.6B from 11.8B. From one year earlier, the trade balance had shrunk, showing German exports are hovering near the lowest level seen in the last few years.

Forex Technical Reaction: The euro bounced 25 pips as the news was released. The pair continues advance since the Asian session started.

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