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U.S. current account deficit shrinks 3.7% in second quarter

Published 09/17/2014, 08:36 AM
Updated 09/17/2014, 08:36 AM
U.S. current account deficit shrinks more than expected in the second quarter

Investing.com - The U.S. current account deficit shrank more than expected in the second quarter, official data showed on Wednesday.

In a report, the U.S. Bureau of Economic Analysis said the country’s current account deficit narrowed by 3.7% to a seasonally adjusted $98.5 billion from a revised deficit of $102.1 billion in the first quarter.

Analysts had expected the U.S. current account deficit to widen to $114.0 billion in the second quarter.

EUR/USD was trading at 1.2971 following the release of the data, from 1.2959 ahead of the report, while GBP/USD was at 1.6335, compared to 1.6320 earlier.

Meanwhile, U.S. equity markets pointed to a higher open. The Dow 30 indicated a gain of 0.1%, the S&P 500 pointed to a rise of 0.1%, while the NASDAQ 100 indicated an increase of 0.2%.

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