The EUR gets an early boost as Germany's trade surplus widens off the back of a rise in exports and fall in imports...
After a relatively busy economic calendar through the Asian session, the German economy was back in focus going into the European open.
This time around the numbers were more aligned with Germany’s survey-based indicators for January and February.
In January, Germany’s trade surplus widened from an upwardly revised €16.4bn to €22.2bn. Economists had forecast a surplus of €16.4bn.
According to Destatis,
Ahead of today’s stats, it was a mixed start for the EUR. Early in the day, the EUR had fallen to a current day low $1.18355 before rising to a pre-stat high $1.18669.
In response to the stats, however, the EUR jumped from $1.18576 to a current day high $1.18769.
At the time of writing, the EUR was up by 0.21% to $1.18709.
Industrial production figures from Italy and finalized 4th quarter GDP numbers for the Eurozone.
With over 20 years of experience in the finance industry, Bob has been managing regional teams across Europe and Asia and focusing on analytics across both corporate and financial institutions. Currently he is covering developments relating to the financial markets, including currencies, commodities, alternative asset classes, and global equities.