Eurozone trade surplus dips to 8-month low in October

The euro area trade surplus decreased in October to the lowest level in eight months, as exports fell and imports rose.

The seasonally adjusted trade surplus shrank to EUR 19.7 billion in October from EUR 24.4 billion in September, which was revised down from EUR 24.5 billion reported earlier, preliminary figures from Eurostat showed Friday.

Economists had expected a surplus of EUR 24.5 billion for October. The latest surplus was the lowest since February, when it totaled the same. Exports dropped 0.3 percent over the month, while imports grew by 2.9 percent.

On a non-seasonally adjusted basis, the trade surplus fell to EUR 20.1 billion in October from EUR 23.2 billion in the same month of 2015. Both exports and imports slid by 5.0 percent and 3.0 percent, respectively in October from a year ago.

Meanwhile, EUR/USD traded at 1.04, up 0.38 percent, while at 12:00GMT, the FxWirePro's Hourly Euro Strength Index remained neutral at 31.05 (a reading above +75 indicates a bullish trend, while that below -75 a bearish trend). For more details, visit http://www.fxwirepro.com/currencyindex