Investing.com – The U.S. current account deficit narrowed unexpectedly in the second quarter of 2011, official data showed on Thursday.
In a report, the U.S. Bureau of Economic Analysis said the country’s current account deficit narrowed to a seasonally adjusted USD118.0 billion in the three months to June.
Analysts had expected the U.S. current account deficit to widen to USD121.0 billion in the second quarter.
The U.S. current account deficit in the first quarter was revised to a deficit of USD120 billion from USD119.0 billion.
Following the release of the data the U.S. dollar remained lower against the euro, with EUR/USD gaining 0.3% to trade at 1.3795.
Meanwhile, U.S. stock index futures pared gains following the data.
The Dow Jones Industrial Average futures indicated a gain of 0.3%, S&P 500 futures edged 0.32% higher, while the Nasdaq 100 futures added 0.55%.
In a report, the U.S. Bureau of Economic Analysis said the country’s current account deficit narrowed to a seasonally adjusted USD118.0 billion in the three months to June.
Analysts had expected the U.S. current account deficit to widen to USD121.0 billion in the second quarter.
The U.S. current account deficit in the first quarter was revised to a deficit of USD120 billion from USD119.0 billion.
Following the release of the data the U.S. dollar remained lower against the euro, with EUR/USD gaining 0.3% to trade at 1.3795.
Meanwhile, U.S. stock index futures pared gains following the data.
The Dow Jones Industrial Average futures indicated a gain of 0.3%, S&P 500 futures edged 0.32% higher, while the Nasdaq 100 futures added 0.55%.