Investing.com - The U.S. trade deficit narrowed sharply in April, as exports edged up 1% and imports declined 3.3%, official data showed on Wednesday.
In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed to a seasonally adjusted $40.88 billion in April from a deficit of $50.57 billion in March, whose figure was revised from a previously reported deficit of $51.37 billion. Analysts had expected the U.S. trade deficit to narrow to $44.0 billion in April.
U.S. exports edged up 1% to $189.91 billion in April, while imports declined 3.3% to $230.78 billion.
EUR/USD was trading at 1.1112 from around 1.1120 ahead of the release of the data, GBP/USD was at 1.5282 from 1.5286 earlier, while USD/JPY was at 124.56 compared to 124.45 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 96.33, compared to 96.28 ahead of the report.
Meanwhile, the outlook for U.S. equity markets was upbeat. The Dow futures indicated a gain of 0.5% at the open, the S&P 500 futures pointed to a rise of 0.45%, while Nasdaq 100 futures tacked on 0.75%.
Elsewhere, in the commodities market, gold futures traded at $1,188.40 a troy ounce, compared to $1,191.00 ahead of the data, while crude oil traded at $60.17 a barrel from $60.35 earlier.
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U.S. trade deficit drops 19.2% in April to $40.9 billion
Published 06/03/2015, 08:32 AM
U.S. trade deficit drops 19.2% in April to $40.9 billion
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