U.S. TIC long term purchases rise more-than-expected

Forexpros - U.S. Treasury International Capital purchases rose significantly more-than-expected in August, official data showed on Tuesday.In a report, the U.S. Department of the Treasury said that net foreign purchases of long-term securities totaled USD57.9 billion in August, significantly above expectations of USD27.8 billion.The previous month's figure was revised down to USD9.1 billion from a previously reported USD9.5 billion.Net purchases by private foreign investors were USD74.7 billion, and net purchases by foreign official institutions were negative USD8.7 billion.At the same time, U.S. residents increased their holdings of long-term foreign securities, with net purchases of USD8.1 billion.Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.19% to trade at 1.3710.Meanwhile, stock index futures moved higher following the data. The Dow Jones Industrial Average futures pointed to a flat open, S&P 500 futures added 0.1%, while the Nasdaq 100 futures indicated a gain of 0.5%.
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