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German Trade Balance suficit rose to 22.8 billion euros

Thursday, Jul 09 2015
Germany exported goods to the value of 95.9 billion euros and imported goods to the value of 76.3 billion euros in May 2015. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 4.6% and imports by 3.0% in May 2015 year on year. After calendar and seasonal adjustment, exports increased by 1.7% and imports by 0.4% compared with April 2015.
 
The foreign trade balance showed a surplus of 19.5 billion euros in May 2015. In May 2014, the surplus amounted to +17.5 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 22.8 billion euros in May 2015. Analysts were predicting smaller suficit of around 20 billion euros.
 
Euro is currently being traded few points above 1.1030 level. Pair is likely to find support around 1.0970 and resistance above 1.11 area. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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