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.
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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.
Source: TradingView, GAIN Capital
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.
Source: TradingView, GAIN Capital
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