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German trade surplus surged in November following stronger growth in exports. The country’s trade balance came at 22.6 billion Euros, from 20.5 billion in November last year.
In term of seasonally-adjusted, the trade surplus increased to 21.7 billion Euros in November from prior 20.6 billion Euros, coming above market expectations of 21.2 billion Euros.
German exports jumped more than expected in November, posting their steepest monthly rise in four-and-half years and pushing up overall industrial production which drove growth in Europe's biggest economy in the final quarter.
On monthly basis, exports increased 3.9 percent in November, extending from previous month gains of 0.5 percent, while imports rose 3.5 percent following a 1.2 percent advance the previous month.
Lastly, following this release, the EUR/USD edged higher by 0.17 percent to 1.0520, while 10-year bund yields fell more than 1 basis point to 0.29 percent.
Also, while at 9:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 59.34 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex
