US Q1 current account widens to $192.6 bln

(Reuters) - The department also significantly lowered its estimate of
the 2006 current account gap to $811.5 billion, from $856.7
billion previously reported. It also lowered its estimate of
the current account deficit for other years dating back to
2001, while raising estimates for the years 1997 through 2000.




The department said the revisions reflected newly available
source data and a methodological change.


Read more at Reuters.com Economic News

UPDATE 1-US Q1 current account widens to $192.6 bln

(Reuters) - The Commerce Department previously pegged the
fourth-quarter current account deficit at $195.8 billion. The
midpoint estimate of analysts surveyed before Friday's report
was for the current account deficit to widen to $201.0
billion.




The department also significantly lowered its estimate of
the 2006 current account gap to $811.5 billion, from $856.7
billion previously reported. It also lowered its estimate of
the current account deficit for other years dating back to
2001, while raising estimates for the years 1997 through 2000.


Read more at Reuters.com Economic News

S. African Rand Headed for Weekly Gain on Outlook for Rates, Credit Rating

(Bloomberg) -- South Africa's rand headed for its
first weekly gain versus the dollar in six on speculation the
central bank will keep lifting interest rates and as concern
about the country's current account deficit wanes.

The rand is set to end its worst run in a year after Moody's
Investors Service said yesterday the country's credit rating may
be put on review for a possible upgrade in the next 18 to 24
months as concern on the current-account gap eases. The Reserve
Bank lifted its main rate to 9.5 percent on June 7, and Governor
Tito Mboweni forecast inflation will hold above the bank's target
in the second quarter.


Read more at Bloomberg Currencies News