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EMU: Current Account surplus narrows more than projected in December

Eurozone Current Account surplus s.a. narrowed to €13.9 billion in December, from €15.9 billion in November, the ECB reported on Monday. Experts predicted less decrease to €15.3 billion.

Current Account surplus n.s.a. widened to €27.0 billion from €20.8 billion, below expectations of widening to €30.0 billion.

Forex: USD/CAD confined to narrow trading range

All was calm across FX markets Monday, ahead of a lightened session, which included both the United States and Canada on holiday today. The tight consolidation of the USD/CAD has clearly reflected this, as the cross has ranged a mere 17 pips (1.0065 – 1.0082) as of European trading. At the time of writing the pair has crept into positive territory this morning, notching a tepid advance of +0.01% at 1.0072/74.
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