US: Fiscal 2020 year-to-date deficit rises to record $3.007 trillion

8 months ago 104
43 CBD Solutions

The United States' federal budget deficit rose above $3 trillion for the first eleven months of fiscal 2020 amid the massive increase in government spending to counter the negative impact of the coronavirus outbreak, the data published by the US Treasury Department showed on Friday. During the same period of 2019, the deficit was $1.067 trillion. 

In August, the budget deficit stood at $200 billion and came in lower than analysts' estimate of $245 billion. However, reporting on the matter, Reuters noted that $55 billion worth of benefit payments were transferred into July because August started on a weekend.

Market reaction

The US Dollar Index showed no reaction to these figures and was last seen flat on the day at 93.32.

Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.

Read Entire Article