Germany’s current account balance (not seasonally adjusted) rose to €16.1bn in December, up from €15.1bn in the prior period.
That is an increase of €1.0bn month over month. The figures reflect Germany’s current account position on a non-seasonally adjusted basis.
Germany’s higher current account surplus of €16.1bn in December suggests the export-driven economy is still holding up well. This strength can support demand for the euro from global trade partners. In the near term, that is generally positive for the currency.
The data also supports a bullish view on EUR/USD. Recent U.S. data from January 2026 showed jobless claims edging up to 220,000, which may point to slower momentum in the U.S. economy. If growth trends diverge, the ECB may keep rates steady for longer than the U.S. Federal Reserve. One way to express this view is to buy near-term euro call options to position for upside.
Germany’s export performance also matters for the DAX, which has large industrial and auto weightings. After the manufacturing slowdowns seen in parts of 2025, this improvement is a helpful sign. Selling put spreads on the DAX could be a way to benefit from improved stability while collecting premium.
This trade update, along with German inflation staying firm at 2.4% in January, gives the ECB less reason to cut rates soon. By contrast, the Bank of England is dealing with a sharper slowdown, which could weigh on the pound. That makes a stronger EUR/GBP a reasonable trade idea for the coming weeks.
The steady surplus through late 2025 also showed that Germany’s industrial sector managed high energy costs better than many expected. That resilience now looks more durable. This context supports the view that the current trend is more than a seasonal effect.
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