020 7898 0500The only release of note from the eurozone yesterday was the Germany trade balance figures for August. The reading showed that the trade surplus dropped to €17.2 billion in August from €20 billion in the same month a year earlier. Exports increased by 2.2% while imports increased at a faster rate of 6.2%.
The euro weakened a little against the dollar, although the moves were negligible. Against the pound it was a different story, as some positive news from Dow Jones helped boost sterling towards the end of the day. The pound touched its highest mark against the single currency since 21 June at one point and it will be interesting to see what happens throughout today and the rest of the week.
The only event of note today is the European Central Bank’s non-monetary policy meeting. It will be interesting to see if anything of note is said, although tomorrow we will see the ECB’s monetary policy meeting accounts which will likely be more interesting, at least in terms of alluding to possible future policy.
