EUR/USD: EZ Trade Balance

The European single currency was almost unchanged against the US Dollar on the trade balance report on Monday. The EUR/USD currency pair sustained the position near the 1.2270 level.

The trade surplus in the Euro area countries rose to the highest level in the last eight months, as an increase in exports outpaced higher exports, despite strengthnening of the Euro, official estimates revealed. The statistics office Eurostat showed that the Euro zone's goods trade surplus grew to seasonally unadjusted €26.3B in November, compared with Octover's €18.9B and €23.6B recorded in the same month a year earlier. In adjusted terms, the EZ trade surplus reached €22.5B in the reported month.