Euro strengthened early yesterday morning against the pound, although it was only brief. Eurozone balance of trade came in much better than predicted, at €17.5 billion instead of €12.3 billion. It’s been a relatively positive week for the Eurozone so far, although German manufacturing, while not negative, is below market expectations, putting some downward pressure on the euro. German producer prices today will provide another insight into how the eurozone’s largest economy is faring.
Italy’s balance of trade and deficit both came in higher than forecasted, in perhaps a glimmer of positivity for an economy that hasn’t been faring so well recently.