Euro Shows Limited Movements at the Beginning of the Week
Euro remains steady versus US dollar at the beginning of the week. The EUR/USD pair is trading at 1.1424, having added 0.04% on the day. Last week, the euro showed significant losses, falling to the lowest level in 17 months.
The single currency stays pressured by ongoing budget dispute between Rome and Brussels, as well as uncertainty about Brexit.
Eurozone current account surplus decreased in September. Today’s data showed, that the current account surplus fell to EUR 17 billion from EUR 24 billion in August. In the same month last year, the surplus was EUR 40 billion. The goods trade surplus decreased to EUR 16 billion from EUR 22 billion and the services trade surplus was steady at EUR 9 billion. In the 12-month period to September, the current account surplus was EUR 357 billion or 3.1% of euro area GDP versus EUR 339 billion of 3.1% of euro area GDP in the 12-month period to September 2017.