German Balance of Trade figures came in this morning, showing that Germany’s trade surplus declined in July year-on-year, as the coronavirus pandemic hit global demand. Month on month, imports and exports both increased, but not by as much as predicted.
Later today, GDP growth rate for the Euro Area will be released, as well as the number of employed persons. A decline of 2.8% is expected quarter-on-quarter.
The main event for the euro this week will be the ECB interest rate decision and press conference on Thursday. It will be interesting to see if the bank expresses concerns over the euro’s strength and have decided to adopt the same approach to inflation as the Federal Reserve.
