Eurozone Current Account showed surplus of €22.3 billion

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Friday, Jun 19 2015

It is a less eventful European part of Friday's session with only minor importance German PPI and Eurozone Current Account figures being released. In May 2015 the index of producer prices for industrial products in Germany fell by 1.3% compared with the corresponding month of the preceding year. In April 2015 the annual rate of change all over had been –1.5%.Compared with the preceding month the overall index remained unchanged in May 2015, missing forecasts on 0.2% incline.

The current account of the euro area recorded a surplus of €22.3 billion in April 2015. Analysts were predicting smaller incline in surplus to €18.1 billion. This reflected surpluses for goods (€30.4 billion), services (€3.4 billion) and primary income (€2 billion), which were partly offset by a deficit in secondary income (€13.5 billion

Euro is still influenced by the possibility of Greek default and is currently being traded few points above 1.1320 level. Pair is likely to find support around 1.13 handle and resistance above 1.14 area. There will be no major data releases in the rest of the session.

More in this category: « Greece just step away from a default Britain's fiscal deficit smallest for any May since 2007 »

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