Technicals

FXstreet.com (Barcelona) - German trade balance has declined somewhat in May, due to the slight monthly increase on imports, and the decline on exports, according to data released by German Statistcs.

Foreign trade balance has posted a 14.4 billion euro surplus in May, down from the 18.8 billion posted in April, and also narrower than the 17.5 billion euro amounted in May last year.

Germany exported 80.8 billion worth of commodities in May, while imported 66.5 billion of commodities. Exports rose 2.5% year on year, while imports increased 8.2% above the level of May 2007. Month on month, exports decreased 3.2%, while imports posted a 0.7% increase.