ONLINE FOREX BROKER
In June, German imports descended more steeply than exports, pushing the trade balance to a 10-month maximum, as Tuesday’s data disclosed.
The data will probably spur criticism of conservative Chancellor Angela Merkel, expected to grasp a fourth term next month, for not stimulating investments enough as a way to step up imports and back other countries.
Seasonally adjusted exports went down by 2.8%, which is the steepest drop since August 2015, which concluded five consecutive months of surge. Imports slid 4.5%, which is the biggest loss since January 2009, as data from the Federal Statistics Office disclosed.
Both figures ruined hopes in a Reuters survey, which had pointed to exports sagging 0.3%, and imports ascending by 0.2%.
Financial experts consider the decline in both imports and exports to be a technical correction after five months of surge powered by firm demands for German goods from within and also outside of the euro zone.
The US dollar index keeps rounding above the 103.60 historical support level. The buyers have already defended this level for three weeks, highlighting their interest in the greenback. Thus, buying USD looks less risky right now.
Happy Monday, dear traders! Hope you had a great weekend and you’re ready for the last trading week in 2022! Later this week we’ll announce some exciting news for you, but now let’s look through some interesting news! Today’s events: USA, UK, Hong…
On the H4 timeframe, the US dollar index has formed a bullish falling wedge. At the beginning of the trading session, the price is testing the upper border of this wedge. Thus, in case of a higher-than-expected Core PCE Price Index m/m, the US dollar will skyrocket against other currencies.
S&P Global, a private banking company, will release a monthly change in British Flash Manufacturing Purchasing Managers Index (PMI) on January 24, 11:30 GMT+2. The index is a leading indicator of economic health as businesses react quickly to market conditions, and purchasing managers hold the most current and relevant insight into the company's view of the economy.
The United States Bureau of Labor Statistics will publish the US Consumer Price Index (CPI) m/m on January 12 at 15:30 GMT+2. The index measures a change in the price of goods and services purchased by consumers.
2022 was rough: inflation, energy crisis, and plenty of other controversial situations…
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