Euro strength and directly related Dollar weakness has affected the Eurozone’s biggest exporter. Germany has posted a drop of 43% in the country’s surplus as exports become more expensive and imports priced in weaker currencies are more attractive to German Consumers.
Germany exported 8.1bn euros (Ã‚Â£7.45bn;$11.95bn) more goods than it imported in August, down from 14.1bn euros in July.
The fall in exports was the first for four months and had not been expected.
Exports were down 20% compared with the same month of 2008 while imports were 19.3% lower.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.