Seasonally adjusted eurozone trade data
- Non-seasonally adjusted €17.9B vs €28.5B exp
- Exports -3.0% y/y
- Imports +3.0% y/y
Soft numbers. The euro is about where it was a year ago versus USD but much higher versus GBP because of Brexit.
Sequentially, starting in January exports have been €177.3B, €178.7B, €182.7B and now €178.9B so it looks more like March was the aberration.
In any case, these trade numbers aren't a big FX driver but EUR/USD has slipped to a session low at 1.1175.
Meanwhile, Q1 Greek employment rises to 22.3% from 22.6%.