Eurozone Trade Balance recorded a €27.5 bn surplus

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Wednesday, Jun 15 2016

The first estimate for euro area (EA19) exports of goods to the rest of the world in April 2016 was €172.3 billion, a decrease of 1% compared with April 2015 (€173.9 bn). Imports from the rest of the world stood at €144.8 bn, a fall of 5% compared with April 2015 (€153.0 bn). As a result, the euro area recorded a €27.5 bn surplus in trade in goods with the rest of the world in April 2016, compared with +€20.9 bn in April 2015. Intra-euro area trade rose to €142.8 bn in April 2016, up by 1% compared with April 2015.

In January to April 2016, euro area exports of goods to the rest of the world stood at €659.0 bn (-1% compared with January-April 2015), and imports at €577.7 bn (-3% compared with January-April 2015). As a result the euro area recorded a surplus of €81.3 bn, compared with +€67.6 bn in January-April 2015. Intra-euro area trade remained nearly stable at €565.3 bn in January-April 2016.

Euro is currently being traded few points below 1.1230 level. Pair is likely to find support around 1.12 handle and resistance above 1.13 level. Later today, in the US session, PPI, Empire State Manufacturing and Industrial Production figures are scheduled for a release as well as Fed interest rate decision.

More in this category: « UK unemployment rate fell to 5% US PPI increased 0.4% in May »

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