US: Budget deficit widens to record high of $738 billion in April

US budget deficit widens at unprecedented pace in April.
US Dollar Index continues to post modest daily losses below 100.

Eren Sengezer FXStreet

The US Treasury Department announced on Tuesday that the budget deficit widened to a record high of $738 billion in April. This reading followed a deficit of $119 billion in March and came in slightly better than the market expectation for a deficit of $747.5 billion.

In April 2019, the US posted a surplus of $160 billion. The fiscal 2020 year-to-date deficit currently stands at $1.481 trillion.

Market reaction

The US Dollar ındex largely ignored these data and was last seen down 0.28% on the day at 99.95.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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