Yesterday, from Eurozone, Trade Balance figures were released. The first estimate for euro area (EA19) exports of goods to the rest of the world in November 2017 was €197.5 billion, an increase of 7.7% compared with November 2016 (€183.5 bn). Imports from the rest of the world stood at €171.2 bn, a rise of 7.3% compared with November 2016 (€159.6 bn). As a result, the euro area recorded a €26.3bn surplus in trade in goods with the rest of the world in November 2017, compared with +€23.8 bn in November 2016. Intra-euro area trade rose to €165.5 bn in November 2017, up by 6.9% compared with November 2016.
In January to November 2017, euro area exports of goods to the rest of the world rose to €209.7 bn (an increase of 7.5% compared with January-November 2016), and imports rose to €1 796.5 bn (an increase of 10.1% compared with January-November 2016). As a result the euro area recorded a surplus of €213.1 bn, compared with +€237.7 bn in January-November 2016. Intra-euro area trade rose to €1 696.1 bn in January-November 2017, up by 7.6% compared with January-November 2016.
There will be no major data releases both from Eurozone and USA tomorrow so we expect a bit steadier session.
