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Euro zone current account surplus widens less-than-expected

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Investing.com - Investing.com - The euro zone's current account surplus widened less-than-expected in October, official data showed on Wednesday.

In a report, the European Central Bank said that the euro zone current account recorded a seasonally adjusted surplus of EUR3.9 billion in October, up from a surplus of EUR2.4 billion in September, whose figure was revised up from a surplus of EUR0.8 billion.

Economists had expected the region's current account surplus to widen to EUR6.0 billion in October.

The report said that the 12-month cumulated seasonally adjusted current account recorded a surplus of EUR84.3 billion in October, around 0.9% of euro area gross domestic product, compared with a deficit of EUR9.3 billion a year earlier.

Following the release of the data, the euro remained higher against the U.S. dollar, with EUR/USD adding 0.14% to trade at 1.3247.

Meanwhile, European stock markets remained broadly higher after the open. The EURO STOXX 50 rose 0.4%, France's CAC 40 gained 0.3%, London's FTSE 100 eased up 0.3%, while Germany's DAX tacked on 0.15%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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