Yesterday, from the Eurozone, German Trade Balance figures were released. Germany exported goods to the value of 110.4 billion euros and imported goods to the value of 86.3 billion euros in September 2017. Based on provisional data, the Federal Statistical Office (Destatis) also reports that German exports increased by 4.6% and imports by 5.5% in September 2017 year on year. After calendar and seasonal adjustment, exports fell by 0.4% and imports by 1.0% compared with August 2017. The foreign trade balance showed a surplus of 24.1 billion euros in September 2017. In September 2016, the surplus amounted to +23.7 billion euros. In calendar and seasonally adjusted terms, the foreign trade balance recorded a surplus of 21.8 billion euros in September 2017.
In the US session Unemployment Claims data was published. In the week ending November 4, the advance figure for seasonally adjusted initial claims was 239,000, an increase of 10,000 from the previous week's unrevised level of 229,000. The 4-week moving average was 231,250, a decrease of 1,250 from the previous week's unrevised average of 232,500. This is the lowest level for this average since March 31, 1973 when it was 227,750. Claims taking procedures continue to be severely disrupted in the Virgin Islands. The ability to take claims has improved in Puerto Rico and they are now processing backlogged claims.
There will be no major data releases both from Eurozone and USA tomorrow, so we expect another steadier session.
