Eurozone Current Account recorded a surplus of €29.4 billion

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Thursday, Nov 19 2015

The current account of the euro area recorded a surplus of €29.4 billion in September 2015. Analysts were anticipating surplus of €18.3 billion. This reflected surpluses for goods (€29.8 billion), services (€4.5 billion) and primary income (€4.8 billion), which were partly offset by a deficit in secondary income (€9.8 billion).

The 12-month cumulated current account for the period ending in September 2015 recorded a surplus of €303.5 billion (3.0% of euro area GDP), compared with a surplus of €229.3 billion (2.3% of euro area GDP) for the 12 months to September 2014. The increase in the current account surplus was largely due to an increase in the surplus for goods (from €231.8 billion to €312.4 billion) and, to a lesser extent, to an increase in the surplus for primary income (from €57.4 billion to €67.2 billion). These were partly offset by a decrease in the surplus for services (from €75.4 billion to €58.5 billion).

Euro is currently being traded around 1.07 area. Pair is likely to find support around 1.0650 handle and resistance above 1.0720 level. Later today, in the US session, Unemployment Claims and Philly Fed Manufacturing Index figures are scheduled for a release.

More in this category: « U.K. Retail Sales down by 0.6% Unemployment Claims decreased, Philly Fed Manufacturing Index up »

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