Eurozone trade balance data

• Trade balance (November), fact 19.0B, forecast 13.7B.

Eurozone trade balance in November increased unexpectedly, closely approaching the maximum values ​​of September last year, and thus indicating a slowdown in the downward trend of this indicator, which has been maintained since 2015. It is also worth noting that the downward trend in the trade balance, despite the growth, remains near five-year lows.

Fig. 1. Eurozone trade balance chart

The market reaction to these statistics remains restrained, especially in the light of the publication of data that the ECB has published a final date when it is necessary to cover the impaired loans. This caused a rapid sale of the euro, especially against the US dollar. As a result, the EUR/USD pair accelerated the decline and updated a low at the level of 1.1420, accelerating the downtrend, which is limited to a three-month uptrend.

Fig. 2. EUR/USD chart. Current price – 1.1430

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Hanzenko Anton

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