Release Explanation: The trade balance measures the country’s exports minus its imports; the largest component of a country’s balance of payments. An increase or decrease in the Trade Balance will help determine the future economic outlook and growth numbers in a region. It can impact all aspects of an economy as it is the way that region balances its books.

Trade Desk Thoughts: The German trade balance surplus fell to 8.3B in January, the lowest level reached since 2002. The previous number, for the month of December, was revised to 11.0B. From one year earlier, the trade balance had shrunk, showing that German exports are hovering near the lowest level seen in the last few years.

Forex Technical Reaction: The euro surged 100 pips in the Asian session, up to TheLFB R1 (1.2690)