Eurozone current account surplus rose in September

Noam Stiekema

The Eurozone current account surplus rose in September,according to the official data from the European Central Bank (ECB). The account rose to 30 billion EUR seasonally on adjusted monthly basis in September from a revised 22.88 billion EUR in August. The average market expectations were for 21.3 billion EUR of the account surplus. Seasonally adjusted […]

EUR

EURThe Eurozone current account surplus rose in September,according to the official data from the European Central Bank (ECB). The account rose to 30 billion EUR seasonally on adjusted monthly basis in September from a revised 22.88 billion EUR in August. The average market expectations were for 21.3 billion EUR of the account surplus. Seasonally adjusted basis surplus increased to 31 billion EUR compared to the 17.4 billion EUR for the previous month.

Since the outbreak of the global financial crisis since the balance of the current account of the Eurozone moves from roughly balanced to clean excess. The indicator for the current account surplus is key to investor confidence and trading partners of the Eurozone in the long term. It measures the balance of trade including net exports of goods and services, net income from abroad and net current transfers. A positive value indicates that an economy is a net creditor to the rest of the world, while the negative value or deficit shows that the subject is a net borrower of the world.

Read this next

Executive Moves

Christine Kiener joins Saxo Markets UK as Head of Institutional Sales

“I have been very impressed by the strong track record, clear strategic pathway and ambition of the Saxo business. I am excited to start working with the team to further grow the institutional footprint which has been established in the UK.”

Industry News

CFTC charges Rathnakishore Giri with $12m Bitcoin ponzi scheme

“Identifying and policing fraud in these emerging markets may be difficult or delayed in light of the agency’s limited visibility in these markets”, said CFTC Commissioner Kristin Johnson.

Institutional FX

AbbeyCross raises $2.47m to develop FX market infrastructure for EM currencies

Many EM currencies are currently traded without full-price discovery, creating an unlimited compliance and regulatory risk.

Digital Assets

YouHodler enhances Multi HODL: faster rates and execution, lower fees

“We know some traders mentioned freezing issues when opening or closing a Multi HODL deal. Now, those problems are completely gone”.

Industry News

ASIC bans Funds United Pty director for six years

The six-year ban will prevent Ms. Hutchinson from controlling an entity that carries on a financial services business, and performing any function within the industry.

Inside View

Brave new world: Recruitment of fintech talent in the new UK immigration environment

In this article, solicitor Denise Osterwald outlines what UK businesses should do to attract top talent from abroad.

Digital Assets, Interviews

FX goes Crypto: Exclusive interview with BVNK’s Jonathan Cumberlidge

BVNK is the new name in the City of London. Co-founded by ex-TradFi Chris Harmse, Balfour Group founder Jesse Hamson-Struthers, and ex-TrueLayer George Davis, the firm provides a single platform to bridge fiat and crypto together. 

Digital Assets

AAX ranked world’s second largest spot exchange, only behind Binance

Crypto trading volumes experienced their first surge in activity since March as the majority of digital assets began their recovery from the recent grim price action, according to a new report by Cryptocompare.

Digital Assets

Bitpay teams up with Cardlytics to provide 15% cashback rewards

Crypto payment service provider Bitpay announced a partnership with Cardlytics Inc (NASDAQ:CDLX), which it says will offer more rewards for BitPay cardholders on its platform.

<