Germany: Trade surplus edged higher in June - BBH

Research Team at BBH, notes that Germany’s trade surplus edged higher in June (24.9 bln euros from 21.0 bln). 

Key Quotes

“Exports were disappointing, rising only 0.3% after falling 1.8% in May.  The market expected a stronger rebound.  Imports rose 1.0% and were stronger than expected on a seasonally-adjusted basis. 

The euro all but ignored the data.  It has been confined to about a third of a cent range, largely within the price action since yesterday.  It has been unable to poke through $1.11 and is finding bids a bit below the 20-day moving average ($1.1080).”