Latest data released by Eurostat – 16 May 2019
- Prior €19.5 billion; revised to €20.6 billion
- Non-seasonally adjusted trade balance €22.5 billion
- Prior €17.9 billion
Looking into the details, exports improved by 0.9% m/m while imports grew by 2.5% m/m and that resulted in the narrower trade surplus seen here. Nonetheless, the narrowing trade surplus isn’t overly significant and the fact that exports held up is definitely a welcome sign for the euro area economy at least.
EUR/USD trades at session highs now at 1.1224 as the dollar continues to slip further as market sentiment starts to improve on the day.