Earlier today was reported, that Euro zones third largest economy, Italy, reached surplus on its trade balance during March.
The amount was 3.2 billion euros, which significantly exceeded the 1.8 billion euro surplus during March 2012. Reasons behind this result could be traced in the decreased level of demand in the country itself, while export data showed a decline by 6% during March 2013, compared to March 2012. Additionally, import figure dropped by 10.6% during the same period.
It was announced that Italys export with countries like Turkey, Spain and Netherlands decreased the most. On a monthly basis Italys export increased by 1.2% during March, while import posed a 0.2% increase during the same period.
After this data, EUR/USD pair, traded at 1.2846-48, gained positions and reached the 1.2853-58 zone. In addition, EUR/GBP cross was trading close to session highs at 0.8457.
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