The EU trade balance reports caused a little reaction in the EUR/USD trading session on Monday. The Euro stayed against the US Dollar at the 1.1790 mark, though afterwards the pair accelerated gains amid lingering bullish support for the European single currency with several attempts to get through the 1.1810 area again.
The Eurostat revealed that trade balance in the Euro area recorded a non-seasonally adjusted surplus of €16.1B over the course of August. The release showed a 6.8% yearly increase in exports to €171.5B, while imports grew at a stronger annual pace of 8.6% to €155.4B in the same period. Due to the strong Euro, cheaper imports managed to complicate the ECB intention to raise inflation in the Euro zone.
