Quick Overview

• The U.S. The trade gap expanded unexpectedly to $62.32 billion in February
  

• The U.S. Labor Department said jobless claims fell 53,000 to 357,000, less than expected.
  

• The U.S. government posted a budget deficit of $311.4 billion for the first half of the 2007-2008 fiscal year -- largest ever.
  

• The unemployment rate in Australia rose from 4.0% to 4.1%.
  

• Japan's machinery orders fell 12.7% in February.
  

• Britain reduced its interest rate from 5.25% to 5.00%, as expected.
  

• The European Central Bank kept its interest rate at 4.0%.