Online Forex broker
In May, German exports managed to ascend more than imports, thus extending the trade surplus, according to Monday’s data. That’s another indication that the EU’s leading economy is still in a good shape notwithstanding trade tensions with America.
On the month, seasonally updated exports went up by about 1.8%, according to data from the Federal Statistics. As for imports, they surged by 0.7%.
A Reuters survey had showed that exports soared by 0.75% as well as imports diving by 0.3%.
The recent weakening of the common currency should generate some relief in the nearer months. It would more than compensate current American duties on European steel and aluminum.
The previous week, finance minister Scholz issued a warning that Donald Trump's intention to put duties on products imported from the European Union and China, would damage everybody.
The previous month US leader threatened to put a 20% import duty on all EU-assembled cars, which could turn the industry’s current business model for selling vehicles in America upside down.
Besides this, US leader hit Canada, Mexico and the European Union with duties of 25% on steel and also 10% on aluminum in June, thus ending exemptions, which had been in place since March. In turn, Canada and the EU repelled this attack with their own tariffs on American products.
China has also hit American products with tariffs responding to Trump's intention to put tariffs on China’s imports, frightening German producers who are used to relying on the world's two leading economies for surge.
In May, the German seasonally updated trade surplus extended to 20.3 billion euros from April’s outcome of 19.0 billion euros. The given outcome topped the Reuters consensus estimate of about 20.0 billion euros.
Additionally, Germany's wider current account surplus, gauging the flow of services, investments, and products dived to 12.6 billion euros from April’s 23.5 billion euros.
American mortgage applications tacked on for the first time for five weeks because most home borrowing costs kept to their lowest value for 10 months…
The releases of employment change and the unemployment rate for Australia are expected on February 21, at 2:30 MT time.
The release of the Federal open market committee (FOMC) meeting minutes is scheduled on February 20, at 21.00 MT time.
Did Bitcoin manage to recover and what was the hottest news in the crypto and blockchain world? Read and find out!
On Monday, Asian stocks traded mostly higher, with Shanghai bucking the trend because centrist Emmanuel Macron fully matched opinion survey hopes and left anti-EU far-right nominee Marine Le Pen behind…
Japan's March real wages went down at the fastest pace in nearly two years, weighed by minor nominal pay lifts as well as a moderate ascend in consumer prices, thus posing a setback for Prime Minister Shinzo Abe's tries to revitalize the Japanese…
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
