Eurozone Trade Balance showed €23.3 billion surplus

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Monday, Feb 16 2015

The first estimate for the euro area trade in goods balance with the rest of the world in December 2014 gave a €23.3 billion surplus, compared with +€13.6 bn in December 2013. Analyst were anticipating smaller surplus of €21.3 billion. The November 2014 balance was +€21. bn, compared with +€16.5 bn in November 2013.

In December 2014 compared with November 2014, seasonally adjusted exports fell by 1.1% and imports by 2.4%. During 2014, euro area trade in goods recorded a surplus of €194.8 bn, compared with +€152.3 bn in 2013. The EU28 recorded a surplus of €24.2 bn in 2014, compared with +€51.8 bn in 2013.

Euro is currently being traded around 1.1410 area. Pair is likely to find support around 1.1350 and resistance above 1.1450 level. We can expect steadier rest of the session since US banks are being closed in observance of President's Day holiday.

More in this category: « BoE - negative rates likely at the moment Aussie higher after RBA Meeting Minutes »

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