EUR strengthens its position, despite the poor August data on the EU external trade. The trade surplus fell significantly from 20.7B to 4.8B euros, which was significantly worse than experts' expectations (16.1B euros). The countries of the Eurozone actively imported energy resources, the prices of which have noticeably increased recently, which was the main reason for the reduction in the surplus of the trade balance. For example, the Eurozone's trade deficit with Russia, the main energy supplier, rose to 37B euros in the first eight months of this year. In the same period last year, it was only 12.9B euros. This deficit was partially covered by a significant increase in the export of European goods to the United States and the United Kingdom. Eurozone leaders announced their intention to protect consumers from the record-high energy prices, which have already led to a decline in industrial production and increased inflation. The bloc's leadership summit will take place next week. It will discuss measures to support businesses and citizens, including tax cuts and subsidies to the most affected households.
