After a relatively busy Asian session, on the economic data front, Eurozone trade data was in focus early in the European session.
Eurozone Trade Data
In September, the Eurozone’s trade surplus widened from a revised €3.50bn to €7.30bn.
According to Eurostat,
- Compared with September 2020, exports of goods to the rest of the world increased by 10% to €209.3bn.
- Imports jumped by 21.6% to €202.0bn.
- Intra-euro area trade rose to €191.5bn, which was up 16.4% compared with Sep-2020.
Market Impact
Ahead of today’s stats, the EUR had risen to a pre-stat and current day high $1.14641 before falling to a pre-stat and current day low $1.14369.
In response today’s production figures, the EUR rose to a post-stat high $1.14565 before falling to a post-stat low $1.14432.
At the time of writing, the EUR was up by 0.01% to $1.14457.
Next Up
NY Empire State Manufacturing Index figures for November. While the headline figure will draw interest, the devil will be in the details. Cost pressures, new orders, employment, and delivery times will be key areas of focus.
On the monetary policy front, ECB member De Guindos is also scheduled to speak late in the day.
The markets will be looking for any views on inflation and the economic outlook…