| Time (GMT) | Event | Actuals | Forecast | Prior |
| 0600 | German Trade balance s.a (June) | €13.6B | €13.5B | €12.6B |
| 0600 | German Exports m/m (June) | 1.3% | 0.4% | 0.3% |
| 0600 | German Imports m/m (June) | 0.6% | 0.8% | 3.4% |
Germany seasonally adjusted trade balance beats estimates in June on the back of surging exports. Data released by the Statistisches Bundesamt Deutschland showed on Monday that German Trade Balance for June grew to €13.6B, from €12.8B (revised from €12.6B) in May and above consensus at €13.5B.
Exports grew 1.3% MoM in June, while Imports fell to 0.6% from 3.4% in May. Exports were expected to rise 0.4% in June and actuals beat forecasts by a big margin, boding well for the single currency.
About Germany Trade Balance
The German Trade Balance released by the Statistisches Bundesamt Deutschland measures the difference in worth between exported and imported goods over the month. A positive number indicates a trade surplus, while a negative value shows a trade deficit.
A steady demand in exchange for German exports would turn into a positive growth in the trade balance, and that should be positive for the EUR. While a lower than expected reading should be taken as negative/bearish for the EUR.
EUR/USD Spot:
EUR/USD was trading slightly higher at 1.1763 at around 06:15 GMT.
Guidance:
Major trend in the pair remains bearish. Any upticks could be used as opportunities to enter Short positions.
