Data for the euro area trade balance has improved
Positive data on the Eurozone’s trade balance surplus supported the euro, which has increased due to lower oil prices and a fall on the stock markets. Thus, the figure totaled 22.7 billion euros in November against 19.8 billion euros in October. Exports rose by 1.6% and imports decreased by 0.1%. It is worth noting that the weak euro, low prices for oil and other commodities will support the euro in the medium term, but the expected strengthening of the US dollar and the program of quantitative easing, according to our estimates will lead to a further decrease in quotations of the European currency to 1.0500 and 1.0000.
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