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Eurozone Current Account recorded a €36.2 bn surplus

Friday, Jun 17 2016
The current account of the euro area recorded a surplus of €36.2 billion in April 2016. This reflected surpluses for 
goods (€31.0 billion), services (€5.6 billion) and primary income (€8.3 billion), which were partly offset by a deficit in secondary income (€8.8 billion). The 12-month cumulated current account for the period ending in April 2016 recorded a surplus of €329.4 billion (3.1% of euro area GDP), compared with one of €282.4 billion (2.8% of euro area GDP) for the 12 months to April 2015. 
This development was mostly due to an increase in the surplus for goods (from €274.7 billion to €331.0 billion) and, to a lesser extent, to a decrease in the deficit for secondary income (from €138.8 billion to €129.4 billion). These were partly offset by decreases in the surpluses for both services (from €70.7 billion to €67.4 billion) and primary income (from €75.7 billion to €60.4 billion).
 
Euro is currently being traded few points below 1.1250 level. Pair is likely to find support around 1.12 handle and resistance above 1.13 level.  
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