Germany’s Current Account surplus is expected to narrow to 8.8 billion euro in August from 11.0 billion in the previous month. A survey of economists polled by Bloomberg forecasts that the external balance will contribute on average 3.8% to the economy’s overall output this and next year, the smallest since 2003. Meanwhile, the current account deficits of Germany’s main non-Eurozone trading partners in the US and the UK are on track to narrow over the same period, hinting at downward pressure on EURGBP and EURUSD in the long-term outlook as international trade patterns gradually adjust.
For streaming currency market news and analysis, please visit http://forexstream.dailyfx.com
To reach Ilya regarding this article or subscribe to his email distribution list, please contact him at ispivak@dailyfx.com
