Fellas, the market is on a move and most of it seems to price in worse than expected economic events. Lately, the Eurozone has released low impact economic events such as German trade balance and industrial production. With no surprises, the figures missed the forecast again.

German Trade Balance

Germany exported products amounting to 108.9 billion Euros and imported goods the value of 94.4 billion Euros in January 2019. Based on temporary data, the Federal Statistical Office (Destatis) also publishes that German exports grew by 1.7% and imports by 5.0% in the January 2019 year on year.

It sounds like bullish news for Euro, but actually it is not. The trade surplus not only missed the forecast of 21.2B but also fell short of the previous data 19.9B.

German Industrial Production

As per Destatis, the production in the industry was down by 0.8% from the prior month on price, seasonally and time adjusted basis according to provisional data of the Federal Statistical Office (Destatis). The updated number reveals an expansion of 0.8% (primary -0.4%) from December 2018.