German trade surplus widens to EUR 19.1 billion in May, supporting the Euro amid broader USD weakness and rising geopolitical risks.
The Euro traded near 1.1440 against the US Dollar on Thursday, supported by a softer greenback and stronger-than-expected German trade data. The common currency remains constrained by geopolitical tensions and rising oil prices, limiting gains despite positive economic prints.
Germany’s trade surplus expanded to EUR 19.1 billion in May, up from EUR 14.5 billion in April, as exports grew and imports contracted. The data provided a modest lift to the Euro, though broader bearish trends persist amid uncertainty over US-Iran negotiations and energy market volatility.
Technical indicators show a hesitant market, with the EUR/USD pair trapped in a weekly range. Momentum oscillators reflect no clear bias, while bulls face resistance near 1.1480 to extend gains.