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.
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Greg Holden is the Chief Market Analyst at ForexYard. Greg uses his detailed knowledge of fundamental and technical analysis to provide some of the leading market forecasts in the forex world today. A guest lecturer at forex symposiums and Chief Editor of ForexYard's analysis center, Greg brings highly detailed and easy-to-use market analyses to his clientele. He has been published on ForexYard's Trading Blog and affiliate websites. Greg holds degrees in Political Science and Economics from Missouri State University, as well as a Masters degree in Middle Eastern History.
