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Nov 02 - 05:55 AM

EUR/USD - Traders Should Note Ugly German Trade Data

By Jeremy Boulton  —  Nov 02 - 03:35 AM
  • German trade surplus grows which logically supports EUR/USD

  • Surplus EUR 3.7 billion in September from 1.2 bln and compared 0.7 bln f/c

  • Growth is due to a 2.3% drop in imports, much worse than 0.4% drop f/c

  • Exports also fell 0.5% mm when f/c rising 0.1%

  • Data suggest a significant slowdown followed first ECB 75bps hike

  • ECB just repeated that huge interest rate hike

  • A lot of cash has recently been invested in EUR


Source:
Refinitiv IFR Research/Market Commentary

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