The upcoming SpaceX IPO could impact the U.S. economy by potentially refinancing a portion of the country’s current account deficit in a single day.

Currency strategists at Commerzbank, led by Volkmar Baur, have studied the possible effects of SpaceX’s IPO, which is set to raise $75 billion at a $1.75 trillion valuation.

Foreign investors, who typically account for about 20% of U.S. stock ownership, with European investors making up roughly half of that share, are expected to be key participants in the offering, as per the strategists. Baur estimates that around 20% of the IPO proceeds, or approximately $15 billion of the $75 billion raise, could come from overseas investors on the first day of trading, as reported by MarketWatch On Wednesday.

With the U.S. current account deficit at $190.7 billion last quarter, the SpaceX IPO could refinance a “not insignificant” 8% of this deficit in one day, potentially boosting the U.S. dollar, especially against the euro if half of the capital inflows are from Europe.

The strategists added that the SpaceX IPO is just the beginning, with additional shares becoming available after lockup expirations and anticipated IPOs from Anthropic and OpenAI in the near future.

They ...