MNI BRIEF: China Copper Prices Up On Trump Inauguration

MNI BRIEF: Canada Says US Tariffs Would Be Error, Set To Reply

CANADA SAYS ABSOLUTELY READY TO RESPOND TO ANY TRUMP TARIFFS

MNI: PBOC Net Injects CNY201 Bln via OMO Tuesday

MNI: PBOC Sets Yuan Parity Lower At 7.1703 Tue; -1.66% Y/Y

MNI China Daily Summary: Monday, January 20

MNI: UK DEC CLAIMANT CHG +700

EZ/UK T-Bill Calendar: 6-month ESM-Bill Auction on Tuesday

EZ/UK Bond Supply Calendar: FR/LT/UK Syndications Near Future

MNI EXCLUSIVE: EU-Mercosur Deal Close, But Likely Short-Lived - Officials

AUSTRALIA: 2025 Election Outcome Looking More Uncertain According To Newspoll

© 1982-2025 MNI. All rights reserved.
Terms | Privacy
Log Out
Free Trial

EUROZONE DATA: Mfg Imports Extend Tepid Implications For Growth

EUROZONE DATA
Data BulletEurozoneBulletMarketsFixed Income BulletsForeign Exchange Bullets
  • Released earlier today, the Eurozone extra-EZ trade surplus was larger than expected in November, at E12.9bn (swda, cons E11.5bn) after an upward revised E7.0bn (initial E6.1bn) in October.
  • It saw the three-month rolling surplus increase a tenth to 0.9% GDP annualized whilst the twelve-month rolling surplus dipped a tenth to 1.1% GDP.
  • The latest monthly improvement came as exports bounced 3.2% M/M after -1.5% in Oct whilst imports increased 0.7% M/M after 1.2%.
  • Monthly growth in both exports and imports was driven by fuels and commodities.
  • Import details continue to have weak longer-term growth implications, with manufactured goods falling -1.7% M/M for the largest monthly decline since Jan 2024 and machinery & transport equipment within that category dipped -0.3% M/M after two heavier declines.
  • Trends in these manufacturing goods imports may have picked up compared to heavy declines seen through 1H24 although they are still tepid at 1.9% Y/Y and -1.0% Y/Y respectively – see charts. 
image
156 words

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
  • Released earlier today, the Eurozone extra-EZ trade surplus was larger than expected in November, at E12.9bn (swda, cons E11.5bn) after an upward revised E7.0bn (initial E6.1bn) in October.
  • It saw the three-month rolling surplus increase a tenth to 0.9% GDP annualized whilst the twelve-month rolling surplus dipped a tenth to 1.1% GDP.
  • The latest monthly improvement came as exports bounced 3.2% M/M after -1.5% in Oct whilst imports increased 0.7% M/M after 1.2%.
  • Monthly growth in both exports and imports was driven by fuels and commodities.
  • Import details continue to have weak longer-term growth implications, with manufactured goods falling -1.7% M/M for the largest monthly decline since Jan 2024 and machinery & transport equipment within that category dipped -0.3% M/M after two heavier declines.
  • Trends in these manufacturing goods imports may have picked up compared to heavy declines seen through 1H24 although they are still tepid at 1.9% Y/Y and -1.0% Y/Y respectively – see charts. 
image