Economic data was on the busier side this morning, with French inflation and Eurozone trade data in focus.
In June, the Eurozone’s trade surplus widened from €7.5bn to €18.1bn. Economists had forecast a widening to €18.2bn.
According to Eurostat,
- Euro area goods exports to the rest of the world rose by 23.8% to €209.9bn compared with June 2020.
- Imports from the rest of the world increased by 28.2% to €191.8bn.
- In January to June 2021, intra-euro area trade rose by 20.3% when compared with January to June 2020.
- Euro area goods exports increased by 15.5% in January-June 2021, when compared with January-June 2020. Imports rose by 15.2%.
Inflation figures from France had a muted impact on the majors, however. In July, France’s annual rate of inflation softened from 1.5% to 1.2%, which was in line with prelim figures.
Ahead of today’s trade data, the EUR had fallen to a pre-stat and current day low $1.17297 before rising to a pre-stat and current day high $1.17430.
In response to today’s stats, the EUR rose to a post-stat high $1.17426 before falling to a post-stat low $1.17409.
At the time of writing, the EUR was up by 0.10% to $1.17417.
From the U.S, prelim consumer sentiment figures for August will be in focus late in the European session.