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Euro zone countries swung into a trade deficit

Euro zone countries swung into a trade deficit | 17 August 2022

17 August 2022, EUR/USD

Euro zone countries swung into a trade deficit

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Euro zone countries swung into a trade deficit in June from a surplus 12 months earlier because of soaring prices of imported gas and oil, Eurostat data showed. Eurostat said the trade gap of the 19 countries sharing the euro with the rest of the world, unadjusted for seasonal swings, was 24.6 billion euros in June, compared to a 17.2 billion surplus in June 2021. Seasonally adjusted, the deficit was even bigger at 30.8 billion widening from 27.2 billion in May. Eurostat did not give a breakdown for the euro zone, but for the whole European Union the trade deficit in energy for the first six months of the year almost tripled to 290.8 billion euros from 105.6 billion in the same period of 2021.

Investment idea: sell 1.0180 and take profit 1.0122.

David Johnson
Analyst of «FreshForex» company
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