Investing.com - The U.S. trade deficit narrowed more than expected in March as imports fell 3.6% from the prior month and exports dropped 0.9%, official data showed on Wednesday.
In a report, the U.S. Commerce Department said that the trade deficit fell to a seasonally adjusted $40.40 billion from a deficit of $46.96 billion in February, whose figure was revised from a previously reported deficit of $47.10 billion.
Analysts had expected the U.S. trade deficit to fall to $41.50 billion in March.
March exports were $176.6 billion, $1.5 billion, or 0.9%, less than February exports.
March imports were $217.1 billion, $8.1 billion, or 3.6%, less than February imports.
EUR/USD was trading at 1.1499 from around 1.1520 ahead of the release of the data, GBP/USD was at 1.4526 from 1.4537 earlier, while USD/JPY was at 106.44 compared to 106.35 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 93.04, compared to 92.86 ahead of the report.
Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures indicated a decline 0.53%, the S&P 500 futures showed a drop of 0.62%, while Nasdaq 100 futures fell 0.71%.
Elsewhere, in the commodities market, gold futures traded at $1,288.95 a troy ounce, compared to $1,290.50 ahead of the data, while crude oil traded at $44.13 a barrel from $43.99 earlier.