17.11.2014 - Trade data supported the Eurozone's investors
The data on the trade balance of the Eurozone, which was published today, pleased investors. Thus, exports in September increased by 4.2% against a decline of 1.4% in August. At the same time, imports increased by 3.0, and partially offset the drop in the index by 3.2% in the previous month. As a result, we saw the growth of the Eurozone trade surplus by 17.7 billion euros in September, which supported the quotations of euro. Today, we recommend paying attention to the speech of the head of ECB at 14:00 GMT. It is also worth noting that a strong influence on the movement of the euro this week may have data on the US labor market on Wednesday, which may lead to strengthening of the US dollar. Our medium term outlook remains negative with the targets at 1.22 and 1.20.