Investing.com - The euro zone’s current account surplus narrowed unexpectedly in March to hit the lowest level in six months, 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 €18.8 billion in March, narrowing from a surplus of €21.8 billion in February.
Economists had expected the region’s current account surplus to widen to €23.0 billion in March.
The seasonally adjusted 12-month cumulated current account for the period ending in March recorded a surplus of €244 billion, 2.5% of euro area GDP, compared with one of €169.4 billion, 1.8% of euro area GDP for the previous 12-month period.
Following the release of the data, the euro held to gains against the U.S. dollar, with EUR/USD rising 0.09% to trade at 1.3713.
Meanwhile, European stock markets were mixed. The Euro Stoxx 50 rose 0.1%, France’s CAC 40 inched down 0.15%, London’s FTSE 100 dipped 0.1%, while Germany's DAX advanced 0.1%.