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Jun 09 - 04:55 AM

EUR/USD - Germany's Shrinking Trade Surplus To Undermine EUR/USD

By Jeremy Boulton  —  Jun 09 - 02:42 AM
  • Germany's trade surplus has been shrinking slowly for past few years

  • Pandemic has speeded the process shaving around EUR 2bln from total

  • U.S. is eurozone's largest single export destination

  • Shrinking surplus should undermine EUR/USD over the l-term

  • EUR/USD longs by far largest FX bet IMM/FX

  • Pair static this year with volatility slumping nL2N2NP0HN





German trade surplus Click here

EURO trade Click here

Source:
Refinitiv IFR Research/Market Commentary

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