US Government’s Budget Deficit in June Comes in Higher than Expected

The US government's budget deficit touched $8 billion in June, higher than the $6.35 billion deficit forecast.

The main trend is still bearish for this pair

According to data released by the Treasury Department, the US government’s budget deficit touched $8 billion in June, higher than the $6.35 billion deficit forecast. Federal spending in June, however, fell 12% YoY in June 2019 to $342 billion.

So far, in this fiscal year, the US government’s total budget deficit has climbed to $747 billion from $607 billion for the corresponding period in the previous year. Calendar-adjusted deficit also came in higher than in the previous year, at $55 billion in June 2019 vs. $30 billion in June 2018.

On Friday, the US dollar index DXY is trading above the key 97.00 level, but the outlook remains bearish over the increased Fed rate cut likelihood. At the time of writing, DXY is trading at 97.01.

ABOUT THE AUTHOR See More
Arslan Butt
Index & Commodity Analyst
Arslan Butt serves as the Lead Commodities and Indices Analyst, bringing a wealth of expertise to the field. With an MBA in Behavioral Finance and active progress towards a Ph.D., Arslan possesses a deep understanding of market dynamics.His professional journey includes a significant role as a senior analyst at a leading brokerage firm, complementing his extensive experience as a market analyst and day trader. Adept in educating others, Arslan has a commendable track record as an instructor and public speaker.His incisive analyses, particularly within the realms of cryptocurrency and forex markets, are showcased across esteemed financial publications such as ForexCrunch, InsideBitcoins, and EconomyWatch, solidifying his reputation in the financial community.

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