At 11:00 Eurostat released Trade Balance – a balance between exports and imports of total goods and services. The document states that the balance in Eurozone amounted to plus 18.4 billion.

What the data show?

The first forecast of exports of goods from the euro area (EA19) for August 2016 showed revenues of 160.3 billion an increase of 8% compared Y/Y. Imports of goods amounted to 141.9 billion (increasing by 4% year on year). As a result, Eurozone recorded a trade balance surplus of 18.4 billion euro compared to 11.2 billion in August 2015.


In the case throughout the European Union increases of the costs of imports exceeded the appreciation of export revenue, which led to slight deepening of the balance for EU28 to 7.4 billion by August 2016 year (the year before the entire European Union recorded a positive balance of EUR 1.7 billion).

Eurodollar gently down

Despite favourable result of the trade balance of the euro area, EURUSD immediately after the publication noted delicate decline (-11 pips). Looking at the Friday session, we see declines from the opening.

The correction that began in the area of 1.1000, stopped almost at the point at an altitude of 38.2% Fibonacci retracement (stretched just by Friday’s depreciation ). EURUSD didn’t respond to macroeconomic data (having medium significance for investors) but just for short-term technical situation:


Leave us a comment!

Error, group does not exist! Check your syntax! (ID: 3)