Monday, December 18, 2006

Forex News: 18.12.2006 The analysts expected slower current account rise in the USA

The deficit of current account in the USA in the third quarter rose substantially toward the second quarter.

In the second quarter, the indicator, reflecting the balance of payments, was -$218.4bln. In the third quarter, the current account deficit widened to -$225.6bln.

Despite the serious growth of the current account deficit toward the preceding quarter, the data was not substantially above analysts’ expectations. The deficit was expected to widen to -$225.0bln in the third quarter.

It is important to note, that the data of the second quarter was revised from $218.41bln to $217.13bln. At the moment, the negative data is most likely to serve as a driving force for dollar drop toward other major currencies.


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