Germany December trade balance report 9 Feb

  • EUR +22.7bln prev revised up from 22.6bln
  • c/a balance EUR +24.0bln vs +24.8bln exp vs 25.0bln prev rev up from 24.6bln
  • exports SA mm -3.3% vs -1.3% exp vs +3.9% prev
  • imports SA mm 0.0% vs -1.1% exp vs +3.5% prev
  • 2016 total trade bal new record of EUR 252.9bln vs 244.3bln

Softer headline and exports. Trade data now taking on a little more focus as talk of protectionism increases and focus on trade talks. Not to mention the US trade adviser stating the euro as "grossly undervalued" and giving Germany an unfair advantage.

EURUSD currently 1.0674 near session lows on general USD demand.