Tue, Dec 01, 2020 @ 09:23 GMT
Home German Trade Balance Below Expectations

German Trade Balance Below Expectations

The German Federal Statistical Office has posted August trade balance at 12.8 billion euros surplus, below 16 billion euros surplus expected. Yesterday, Germany’s industrial production declined 0.2% on month in August, well below +1.5% expected.

From a technical point of view, on a daily chart, EUR/USD stands below a former rising trend line and stands below its 50-period moving average (in blue). Readers may therefore consider the potential for a new weakness below horizontal resistance at 1.1850. The nearest threshold would be set at September bottom at 1.1610 and a second one would be set at previous overlap at 1.1500.

Forex.com
DISCLAIMER: The information and opinions in this report are for general information use only and are not intended as an offer or solicitation with respect to the purchase of sale of any currency. All opinions and information contained in this report are subject to change without notice. This report has been prepared without regard to the specific investment objectives, financial situation and needs of any particular recipient. While the information contained herein was obtained from sources believed to be reliable, author does not guarantee its accuracy or completeness, nor does author assume any liability for any direct, indirect or consequential loss that may result from the reliance by any person upon any such information or opinions.

Featured Analysis

Learn Forex Trading