The eurozone current account surplus rose to E2.8bn in August from E1.3bn in July, the European Central Bank said (ECB). In August, the goods surplus of E10.2bn and the services surplus of E1.2bn were partly offset by deficits of E2.8bn in income and E5.7bn in current transfers. In the financial account, combined direct and portfolio investment showed a net outflow of E39.6bn in August, which mainly reflected net outflows in portfolio investment of E37.9bn, the ECB said.
In other economic data, German import prices declined in August as the continued strength of the euro made overseas goods cheaper for German companies. Import prices fell 0.2pc in September from August and were down 2.6pc from a year earlier, the Federal Statistics Office said. Export prices rose 0.2pc on the month and were down 0.1pc from a year earlier. //www.fxcentre.com