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by ForexNewsNow Team on December 20, 2010

EMU current account deficit grows unexpectedly

NEW YORK (Forex News Now) – The European current account deficit grew in October, data showed on Tuesday in an event likely to have a major impact on euro currency market trading.

In a major realtime forex news event, the European Central Bank said that the difference in value between imported and exported goods grew to -9.8 billion euros in October, down from a mark of -9.7 billion the previous month.

The report was surprising because most analysts had expected a deficit of only around -6.2 billion in October, major online FX trading news outlets reported.

The seasonally-adjusted data has a direct link to currency demand, and is therefore important for FX traders.

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