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 remained steady at 10.7B in December, the lowest level reached since June 2003. The previous number, for the month of November, was revised to 10.9B. 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 fell 70 pips in the Asian session, down to the neutral pivot point (1.2895)