Eurozone Trade Balance Jumps to 17.0B – is it Good Enough to Support Euro?

According to Eurostat, the Eurozone trade balance figure shows a trade surplus. It means, the Eurozone export increased imports. As per the first estimate for Eurozone (EA19) exports of goods in January 2019 was €183.4 billion. Whereas, the number jumped by 2.5% with January 2018 (€179.0 bn).

On the flip side, the Eurozone imports stood at €181.8 bn, a growth of 3.4% seen vs. €175.9 bn imports in January 2018.

For the newbies, an increase in exports vs. imports is known as a trade surplus and typically drives bullish trend in Euro.

Anyhow, we are already in a buying position in the EUR/USD which seems to do well for us. The idea is to move stop loss to the breakeven point of 1.1339 with a take profit of around 1.1369.

Good luck!

ABOUT THE AUTHOR See More

Arslan Butt

Index & Commodity Analyst

improve security

Forex Signals Brief Feb 4: JOLTS Jobs Don't Matter When Markets Trade Politics

1 year ago

Save

Euro Heads to Parity After Failed Bounce, Dax Keeps Making Record Highs Despite Trade Worries

1 year ago

Save

Forex Signals Brief Feb 3: EZ Inflation to Weigh on Euro After trade Tariffs

1 year ago

Save