Home » Currency Note » Currency Note » Currency Note EUR » EUR: Euro weakens again

The euro weakened against sterling and the dollar yesterday.

Germany’s Balance of Trade report for June is released today showing somewhat stable import and export figures. Surplus in Germany narrowed to €0.5 billion as imports rose to 33.6% year-on-year to 129.8 billion amid surging energy prices, while exports rose to 130.3 billion

The market however is currently looking less optimistic in Germany as figures take a huge dive overall. The S&P Global Services PMI declined to 49.2 this month  (from 52.4 in June) . Data shows this was also lower than market expectations which were at a slightly more optimistic 51.2.

Moreover, sales in Germany’s service sector also declined.

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