Forex: The European trade balance comes out lower than expected at -3.3 Billion

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The European trade balance came out at -3.3 Billion from an expected figure of a deficit of -1.3Billion, showing a higher than expected deficit in the trade balance for January. The figure shows that either a higher amount of imports figure came out than was expected or a lower export figure for the Euro zone countries.

 

The news saw little change in the Euro dropping slightly from a sudden spike experienced prior to the news which saw the EURUSD pair rise to a daily high of 1.4092, its highest level in 3 and a half months, before dropping by some 8 pips to 1.4086 and steady off to currently trade around the 1.4083 level.