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08
Jan
2009
Euro Drops as German Exports Collapse
Posted by admin as Daily Forex Commentary, Forex, Forex News
Posted by: Commentary from Boris Schlossberg and Kathy Lien, Directors of Research, GFT
The EUR/USD gave up all of it late Asian session gains slipping below the 1.3600 figure in early European trade as news of a much sharper than expected contraction in German Trade surplus weighed on the unit. German trade surplus shrank to 10.7 Billion euros - far worse than the 14.0 Billion euro expected by the market, as exports collapsed by more than 10% in November due to massive pullback in global demand for capital goods.
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