Forex - Preview: due 20 Jun - US Q1 Current Account

 14:07 (GMT) 19 Jun

  [Economic Data]

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We expect a Q1 current account deficit of $115.0bn, marginally up from $112.4bn in Q4 though historic revisions will be seen, and could push the Q4 total a little higher. The deficit will round to 2.4% of GDP, as in Q4.

Preview: due 20 Jun - US Q1 Current Account (0100-QBHV-C01)

Goods and services data has already been released with the monthly trade reports. The goods deficit of $200.3bn compared to $195.1bn in Q1 (originally reported as $196.1bn). The services surplus of $61.3bn compares to $61.0bn in Q4 where a revision from $63.8bn suggests Q4's current account deficit will be revised higher.

Preview: due 20 Jun - US Q1 Current Account (0100-QBHV-C02)

Data for primary (investment) and secondary (unilateral transfers) income is still unreleased, but data in the Fed's quarterly flow of funds report suggests a large improvement in Q4 from the former will see only a modest correction while the latter should see a significant improvement in Q1. The net impact in Q1 of these two components should be positive.

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