Saturday, November 18, 2006

Forex News: Trade balance in the euro area +2.0bln euro in September

Forex News

As Eurostat, the Statistical Office of the European Communities reported today, the trade balance surplus in the euro area was 2.0bln euro in September, which exceeded the analysts’ forecasts, who expected the deficit of 2.5bln euro, resting the expectations on August reading.

Let us remind that in August the trade balance deficit in the euro area was 5.4bln euro (5.8bln were reported earlier).

At the annual rate, exports rose by 2.0% in September, while imports fell by 0.1%. The substantial surplus of trade balance in the euro area is a positive factor for euro rise toward other currencies. The positive data may seriously influence the market.


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