Eurozone Trade Balance Jumps to 17.0B – is it Good Enough to Support Euro?
Arslan Butt • 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.