Latest data released by Destatis - 8 May 2018
- Prior +€18.4 bn; revised to +€18.5 bn
- Current account balance +€29.1 bn vs +€27.0 bn expected
- Prior +€20.7 bn
- Exports m/m +1.7% vs +1.8% expected
- Imports m/m -0.9% vs +1.0% expected
A slight improvement in exports sees the trade surplus grow bigger than expected. Not going to matter all too much given the expected soft patch in Q1 for Eurozone data already. Imports once again pulling off a miss relative to estimates.
Nothing else to glean from the report. EUR/USD holding at 1.1920 after touching lows of 1.1909 earlier. EUR/GBP near the lows at 0.8789 on the day. EUR/CHF steady at 1.1956.
