The world’s largest exporter reports its trade figures tomorrow. Exports are expected to fall 4.0% month over month. Think about that for a moment. That is not an annual rate, but a change from the prior month. Multiply by 12 to get a rough annualized rate. Frightening.
Clearly this is one reason why despite the short base the market has built ,rebounds in EUR/USD are rather modest.
EUR/US trades quietly at 1.2625.
