Eurozone Trade Balance Jumps to 17.0B – is it Good Enough to Support Euro?
Eurozone trade balance figure shows a trade surplus. It means, the Eurozone export increased imports. As per the first estimate for Eurozone
Arslan Butt•Monday, March 18, 2019•1 min read
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!
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ABOUT THE AUTHOR
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Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.
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