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” TheLFB-Forex.com Trade Team said.
TheLFB-Forex.com Trade Desk Thoughts: The German trade balance surplus rose to 8.9B in February, among the lowest read in the last few years. The previous number, for the month of January, was revised to 6.8B. In unadjusted terms, Germany exports reached 64.4 billion euros, down by 23.1% from one year ago, while it imported goods worth of 56.2 billion euros, down by 16.4% from February 2008.
Forex Technical Reaction: The euro fell 90 pips in the Asian session, down to TheLFB S1 (1.3190)