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U.S. Q1 current account deficit widens less-than-expected

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Forex Pros - The U.S. current account deficit widened less-than-expected in the first 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 widened to a seasonally adjusted USD119.0 billion in the three months to March, compared to a deficit of USD112.0 billion in the previous quarter, whose figure was revised from a deficit of USD113.0 billion.

Analysts had expected the U.S. current account deficit to widen to USD130.0 billion in the first quarter.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.53% to trade at 1.4106.

Meanwhile, U.S. stock future indices pared losses after the release of the data. The Dow Jones Industrial Average futures pointed to a loss of 0.25%, S&P 500 futures indicated a drop of 0.2%, while the Nasdaq 100 futures pointed to a decline of 0.15%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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