020 7898 0500The trade surplus in the eurozone fell yesterday, as the difference between exports and imports in August fell to €16.1 billion compared to €17.5 billion a year ago. While imports climbed to 8.6%, exports only grew by 6.8%. This news did very little to the euro, although some positive data from the US did cause the greenback to strengthen very slightly against the single currency.
Concerns over Catalonia’s relationship with the rest of Spain reared their head again yesterday as the Spanish government announced that the Catalonia leader, Carles Puigdemont had failed to clarify whether or not he declared independence last week. Spain’s Deputy Prime Minister, Soraya Saenz de Santamaria said Puigdemont has three days to clarify his position. If the situation is not resolved soon, we could see some weakening of the euro.
The key release for the eurozone today is the German ZEW economic sentiment index. It surveys up to 300 experts from banks, insurance companies and financial companies, and is seen as a leading indicator for the German economy. In addition, we have the inflation report.
