Cyprus Balance of Trade
Since Cyprus is unable to produce enough food and fuel on its own, trade has played a crucial role in the island nation's recent economic success. Consequently, fuels, raw materials, heavy machinery, and transportation equipment are all imported at a net positive rate into Cyprus. Cyprus is mostly known for exporting citrus fruits, cement, potatoes, textiles, and pharmaceuticals. T the European Union, which accounts for 50% of all Cypriot trade flows is Cyprus' largest and most important commercial partner, followed by the Middle East, which receives 20% of Cyprus' exports, is the country's second most important trading partner. Due to their historical ties, the United Kingdom and Greece account for the highest percentage of trade within the European Union. Recent discoveries of offshore gas will almost certainly reduce Cyprus' reliance on imported energy and result in a shift in the structure of the country's exports.
A higher than expected figure should be seen as positive (bullish) for the EUR while a lower than expected figure should be seen as negative (bearish) for the EUR.
Forex Sentiment (EUR)
| Symbol | Community Trend (Shorts vs Longs) | Symbol Popularity | Avg. Short Price / Distance From Price | Avg. Long Price / Distance From Price | Current Price | |
|---|---|---|---|---|---|---|
| EURUSD |
|
|
1.0719 -41 pips |
1.0843 -83 pips |
1.07599 | |
| EURAUD |
|
|
1.6221 -30 pips |
1.6372 -121 pips |
1.62511 | |
| EURJPY |
|
|
156.2831 -842 pips |
165.4439 -74 pips |
164.700 | |
| EURCAD |
|
|
1.4640 -85 pips |
1.4739 -14 pips |
1.47252 | |
| EURCHF |
|
|
0.9592 -151 pips |
0.9826 -83 pips |
0.97430 | |
| EURCZK |
|
|
25.3748 +3648 pips |
0 +250100 pips |
25.01000 | |
| EURGBP |
|
|
0.8560 -16 pips |
0.8606 -30 pips |
0.85760 | |
| EURHUF |
|
|
383.9147 -530 pips |
390.8705 -165 pips |
389.22 | |
| EURNOK |
|
|
10.9959 -7145 pips |
0 +117104 pips |
11.7104 | |
| EURNZD |
|
|
1.7762 -137 pips |
1.7985 -86 pips |
1.78993 |
News (EUR)
Eurozone Unemployment Rate Steady At 6.5% For Fifth Month
Euro area jobless rate remained unchanged at a record low for the fifth month in a row in March and the unemployment decreased, while a tight labor market could urge the European Central Bank to remain cautious even as policymakers gear up for an interest rate cut in June. The seasonally adjusted unemployment rate was 6.5 percent in March, which is the same level as in the previous four months.
RTTNews | 1 day ago
European Economics Preview: Eurozone Jobless Data Due
Unemployment figures from the euro area and Spain, and the purchasing managers' survey results for the services sector from the U.K. are the highlights on the economics front on Friday. Eurozone jobless rate is expected to remain steady at 6.5 percent in March. Eurostat is set to release the data at 05:00 am ET.
RTTNews | 2 days ago
Eurozone Exits Recession In Q1
The euro area economy expanded in the first quarter after two consecutive declines as all big four economies exhibited better performance, boosting hopes of a sustained recovery this year. Gross domestic product grew by a faster-than-expected 0.3 percent sequentially following a 0.1 percent fall each in the fourth and third quarters of 2023, preliminary flash estimates from Eurostat showed.
RTTNews | 4 days ago
