The report out this morning on the Italian trade balance surprised several traders by publishing a surplus. September 2010 was the last time a trade surplus was experienced by the Italian economy. So far the news has only helped the EUR gain, albeit mildly, in today’s trading.
Trade reports such as this rarely have a hefty impact on a currency’s value. The Italian trade balance report is one such example. Though it is a positive for the region in general, and Italy specifically, it doesn’t really carry that much weight in forex valuations. Nevertheless, the EUR should gain some strength from this data.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
