Eurozone Trade Surplus Widens but Fails to Impress the EUR ahead of Lagarde

It’s a been a quiet start to the day on the Eurozone economic calendar.

Eurozone trade data was in focus early in the European open.

Trade

In July, the Eurozone’s trade surplus widened from €17.7bn to €20.7bn.

According to Eurostat,

• Euro area exports of goods to the rest of the world increased by 11.4%, year-on-year, to €206.0bn.
• Imports from the rest of the world jumped by 17.1% to €185.3bn.
• Intra-euro area trade rose by 16.8%, year-on-year, to €179.7bn.

Market Impact

Ahead of today’s figures, the EUR had risen to a pre-stat and current day high $1.18208 before hitting reverse.

In response to today’s stats, the EUR rose to a post-stat high $1.17775 before falling to post-stat and current day low $1.17663.

At the time of writing, the EUR was down by 0.41% to $1.17686.

Next Up

Initial jobless claims and retail sales figures from the U.S. ECB President Lagarde is also scheduled to speak ahead of today’s stats from the U.S.