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Release Explanation: This is a nation’s total exports of Goods, Services, and Transfers, deducted from its total imports of them. (Not to be confused with the Trade Balance that looks solely at imported and exported Goods). Current Account Balance calculations exclude transactions in Financial assets and liabilities. “The Current account is a comprehensive accounting review of a nation’s Global trade that includes the Trade Balance in its figures,” TheLFB-Forex.com Trade Team said.
TheLFB-Forex.com Trade Desk Thoughts: The Euro-area current account was released at -6.5B, better than analysts’ expectations. The previously released number, for the month of February, was revised lower, to -7.8B. “The report shows that the Euro-area current transfers and goods accounts still recorded a deficit in March, but were offset by a surplus in services and income, “TheLFB-Forex.com Trade Team said.
Forex Technical Reaction: The euro fell 30 pips after the news release, breaking TheLFB S2(1.3925) and at the same time the low of the session.
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