EUR/USD eases from seven-week high

Euro is witnessing sedated moves after a correction in last session pulled it from around seven-week high against the US dollar. In a key data for the single currency today, Germanys seasonally adjusted trade balance came in at Euro 15.4 billion in June, according to official data, reflecting a slowdown in export growth and elevated energy costs. The June figure marks a decline from the previous months revised surplus of Euro 17.0 billion. Exports edged up by 0.3% month-on-month, while imports increased by 1.7%. On a year-on-year basis, exports were down 2.1%, while imports fell 3.5%, pointing to subdued trade activity overall. EUR/USD pair is currently quoting at 1.1544, almost unchanged on the day as markets are eying the US nonfarm payrolls data release.

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