Source: ForexYard
Contrary to the previous article on the Italian trade balance, the euro zone’s trade data and Current Account both revealed a deep plummet into deficit territory. The Current Account was only forecast to undergo a 5.6B EUR decline; the actual results were harrowing.
A reading of -12.9B EUR deficit being added to the euro zone’s Current Account have so far put some pressure on the 17-nation currency. The trade balance data also revealed a dip of 2.5B EUR into deficit territory. So far, the EUR is balancing the disparate reports out of the broader region and Italy, but it doesn’t seem to have much effect either way.
Read more forex trading news on our forex blog.
Forex Market Analysis provided by ForexYard.
© 2006 by FxYard Ltd
Disclaimer: Trading Foreign Exchange carries a high level of risk and may not be suitable for all investors. There is a possibility that you could sustain a loss of all of your investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with Foreign Exchange trading.
