Latest data released by Destatis - 8 November 2018
- Prior €17.2 billion; revised to €17.1 billion
- Current account balance €21.1 billion vs €21.0 billion expected
- Prior €15.3 billion
- Exports -0.8% vs +0.4% m/m expected
- Prior -0.1%; revised to +0.1%
- Imports -0.4% vs +0.8% m/m expected
- Prior -2.7%; revised to -2.4%
Slight delay in the release by the source. Once again, exports data missed on expectations and disappointed. This is in keeping with the weakening rhetoric in that sector of the German economy and this won't provide much encouragement for a potential rebound in Q4.
The release here isn't going to do much to weigh down the euro but this will be one to look out for as it will impact the economic outlook for the months to come. EUR/USD now at 1.1435 still trading in a narrow range so far today. EUR/GBP likewise at 0.8710 and EUR/JPY at 129.93.
