Trade Balance figures for the month of February have been announced in Germany. The announced figure of a 11.4 billion euro trade surplus was lower than the 12.5 billion the market expected and slightly lower than the 11.8 billion previous reading of January. Following the news announcement at 07:00GMT no significant volatility was observed in any major currency pairs having the Euro as counterpart.
The Trade Balance figures show the difference in the value between the total goods and services a country exports and imports. A positive value is a trade surplus, while a negative value is a trade deficit. A higher reading is usually associated with bullish behavior of the associated currency as it indicates other countries have interest on the country’s currency and hence import from it. With Germany being the biggest economy in the Eurozone this index is very important for the single currency.