European current account and Italian Trade Balance

Monday, 19 December 2011 02:56

The European Central Bank reported today that euro zone Current Account showed a deficit of 7.5 billion euro in October.
Index fell from 2.2 billion euro surplus in previous month.

Analysts estimated deficit for only 2.1 billion euro.

The 12-month cumulated Current Account recorded deficit of 58.7 billion in October. A year earlier deficit was accounted for 29.5 billion euro.

Official data presented also today by Istat indicates Italian Trade Balance deficit fell to 1.08 billion euro in October.
Index fell from 1.88 billion in previous month but still did not meet the expectations of decline to 0.97 billion.

Both of the news had negative impact on euro, that held on losses against dollar. EUR/USD traded at 1.3015 after data release.