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German exports dropped 5.2% August

FXStreet (Mumbai) - The Destatis data released on Thursday showed German exports fell 58.2% in August dragging down the surplus to EUR 15.3 billion from July’s EUR 25.0 billion surplus.

The imports also dropped 3.1%. The drop in both exports and imports was higher than expected. The deterioration in demand from the emerging economies is weighing over the German manufacturers. Moreover, the sharp slowdown in the Chinese growth rate is a major threat to the German export sector.

Germany Current Account n.s.a. down to €12.3B in August from previous €23.4B

Germany Current Account n.s.a. down to €12.3B in August from previous €23.4B
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USD/CHF drops to 0.9720 post Swiss data

The USD/CHF pair ran through fresh offers near the hourly 200-SMA in the early Asian trades and extends its gradual descent thereon; as renewed buying interest was seen around the CHF after the Swiss unemployment rate beat estimates.
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