Euro zone July trade balance +12.6 bln euros

Euro zone July trade balance has come in at +12.6 bln euros, demonstrably better than the median forecast of +6.4 bln. June’s balance was also revised up, to +5.4 bln from +4.6 bln.

July exports fell 19% y/y, while imports plunged 30%.

EUR/USD steady at 1.4735.