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Euro area trade surplus widens in July on higher exports

Euro area trade surplus widens in July

Euro area seasonally adjusted trade surplus widened to 19.0 billion euros in July, compared to a revised surplus of 17.7 billion euros in June, Eurostat data released on Friday showed.

The data came above analysts’ projections of 17.5 billion-euro surplus. Exports increased by 0.6 percent, while imports remained stable.

The euro area recorded a non-seasonally €24.8 billion surplus in trade in goods with the rest of the world in July 2019, compared with €16.9 billion in July 2018.

As of 09:22 GMT, the euro resumed its advance for a second straight session to $1.1095 after reporting a peak at $1.1109, the highest since August 27.

Now, the common currency is set for its second consecutive weekly gain versus the U.S. dollar despite backlash among ECB after unveiling a new stimulus package on Thursday.

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