020 7898 0500The euro made some losses against sterling yesterday and there was very little movement against the dollar. This was somewhat surprising given that eurozone GDP growth came in ever-so-slightly better than expected at 2.6%. Having said that, German industrial production in October declined by 1.4% when it had been expected to grow by 2.2%.
Today sees the release of the balance of trade for Germany and, as the eurozone’s largest economy, it will be interesting to see what the figure is. It is expected to shrink by some €2.5 billion, although that would still put it at a surplus of €21.6 billion.
