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U.S. trade deficit falls 7.4% in July to $41.9 billion

Published 09/03/2015, 08:36 AM
Updated 09/03/2015, 08:36 AM
© Reuters.  U.S. trade deficit narrows more than forecast in July

© Reuters. U.S. trade deficit narrows more than forecast in July

Investing.com - The U.S. trade deficit narrowed more than expected in July, as exports edged up 0.4% and imports fell 1.1%, official data showed on Thursday.

In a report, the U.S. Commerce Department said that the trade deficit declined to a seasonally adjusted $41.86 billion in July from a deficit of $45.21 billion in June, whose figure was revised from a previously reported deficit of $43.8 billion.

Analysts had expected the U.S. trade deficit to narrow to $42.4 billion in July.

U.S. exports edged up 0.4% to $188.5 billion, while imports fell 1.1% to $230.36 billion.

EUR/USD was trading at 1.1228 from around 1.1230 ahead of the release of the data, GBP/USD was at 1.5274 from 1.5270 earlier, while USD/JPY was at 120.17 from 120.20 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 95.86, compared to 95.88 ahead of the report.

Meanwhile, U.S. stock futures pointed to a higher open. The Dow futures pointed to a gain of 0.4%, the S&P 500 futures rose 0.4%, while the Nasdaq 100 futures tacked on 0.35%.

Elsewhere, in the commodities market, gold futures traded at $1,125.90 a troy ounce, compared to $1,124.20 ahead of the data, while crude oil traded at $46.26 a barrel from $46.14 earlier.

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