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FXStreet (Guatemala) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman noted that Germany's current account surplus may be around 7.4% of GDP this year, the largest among high income countries and well above China's.

Key Quotes

"Germany reported trade, IP, and current account figures for December. The surpluses were somewhat larger than expected at EUR18.5 bln and EUR23.5 bln, respectively."

"The mix of exports and imports is worth noting, because it is consistent with some moderation in economic activity at the end of last year. Exports were off 0.9%, whereas the consensus expected a 0.8% gain. Imports fell 0.6%, while the consensus called for a 1.2% rise."

"IFO was quoted on the news wires suggesting that Germany's current account surplus may be around 7.4% of GDP this year, the largest among high income countries and well above China's. IP came in well below expectations, falling to 2.6% y/y vs. expectations for a stable reading of 3.5%."
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