Oops. Latest German trade data softer than expected.

  • +EUR 25.0 bln prev
  • current account balance +EUR 12.3bln vs +16.7bln exp vs 24.7bln prev revised up from +23.4 bln
  • exports mm SA -5.2% vs -0.9% exp vs +2.2% prev rev down from +2.4%
  • imports mm SA -3.1% vs -0.6% exp vs +2.3% prev rev up from +2.2%

Euro turning a tad lower on the news. EURUSD 1.1256 from 1.1261

Market won't have been that surprised by the weaker data and I fully expect it to get worse

German trade balance MM