Home » Currency Note » Currency Note » Currency Note EUR » EUR: eurozone balance of trade figures narrow sharply

The euro enjoyed a fine day against the pound yesterday following the political fallout we saw from the UK. It is the biggest day of gains against sterling for some time now. Against the dollar, things were much more sedate; the appetite of investors clearly revolved around the pound and will likely continue to throughout today.

Economic data from the eurozone was disappointing though, with the balance of trade figures showing the trade surplus narrowed sharply to €13.1 billion in September from almost double that the same month last year. Other than that, it was fairly quiet – the headlines were understandably dominated by UK politics.

Today sees wholesale prices from Germany, as well as the eurozone’s inflation rate for October. It is expected to nudge up to 2.2% from 2.1% the previous month. European Central Bank President Mario Draghi is due to give a speech this morning and it will be interesting to see if he says anything about future monetary policy, particularly given recent disappointing data from across the eurozone.

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