Eurozone current account surplus narrows in March

Eurozone current account surplus narrows in March

Eurozone current account surplus witnessed a slight narrowing in March, yet remained near all-time record high, data from the ECB showed on Friday.

The surplus narrowed to 34.1 billion euros in March from 37.8 billion euros in February, while analysts had predicted a surplus of 32.3 billion euros.

In the year ended March, the surplus reached 363.6 billion euros, which represents 3.4 percent of GDP in the 19-nation region.  

As of 08:59 GMT, the euro resumed its rally against the U.S. dollar after taking a breather yesterday to trade at 1.1148 after opening at 1.1101.

Ahmed Mamdouh

Ahmed Mamdouh, Co-Founder and Head of English Fundamental Analysis at FXComment.com, with 7 years of experience in the financial markets. Mamdouh holds a Master’s Degree in Economics from The American University in Cairo and a Bachelor Degree in Economics from The Faculty of Economics and Political Science, Cairo University.

You have to be logged in to comment.