EUR/USD – A Quick Update On European Economic Events!

The single currency EUR/USD is tossing up and down due to a series of low impact economic events. Here’s a quick update:

German Trade Balance – The figure fell short of expectations and disappointed the investors. Economists were expecting 18.2B trade surplus, but the actual figure shows 17.6B.

French Trade Balance – France trade deficit has remained unchanged at -5.7B vs. economists’ forecast of -6.1B.

What’s Next In European Session?

EU Economic Forecasts – At 09:00 (GMT), the European Commission is due to release an economic forecast report. The forecasts serve as the European Commission’s basis for evaluating economic performance and trends of EU member states in regard to potential austerity measures and other forced spending cuts.

This report includes economic forecasts for EU member states over the next 2 years. Therefore, it may have a slight impact on the single currency Euro today.