According to Eurostat, the eurozone’s external trade surplus increased up to €8.6 billion in March, which is twice as high as expected by analysts.
The surplus was estimated at €2,3 billion in February 2012. The eurozone’s export declined by 0.9% while the import gained 1.1% in March as compared with February.
As for the EU, its external trade deficit shrank by 50% down to €6.7 billion in March. As compared with March 2011, the external trade deficit declined by €5.1 billion.
Forex.
According to , EURUSD is forming a downswing – wave C of wave level H8 started at 1.2957. The closest major levels of support are 1.2697, 1.2647 and 1.2624. The mid-term downtrend may reverse if the price manages to break and consolidate above 1.2957 9as shown below):
