The German exports fell 2.4% in September after having risen 0.1% in August (figure revised upwards from -1.2%), as reported by Destatis, the Federal Statistics Office. The figure disappoints market expectations, as a drop of 1.1% was expected. On a year-on-year basis, the indicator fell 7.5%.
Imports fell 1.7% in September after falling 0.3% the previous month (figure revised from -0.4%), worsening forecasts that predicted a rise of 0.5%. The indicator registers its fourth consecutive month of declines. On a year-on-year basis, imports suffered a drop of 16.6%.
The Germany’s trade balance reduced its surplus to 16.5B euros from the previous 17.7B (figure revised upwards from 16.6B). Despite decreasing, the indicator improves the consensus forecast, which estimated a decline to 16.3B.
EUR/USD reaction
EUR/USD has ignored the data and is trading near the daily high reached just before the European open at 1.0634. At the time of writing, the pair is trading above 1.0630, gaining 0.08% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
