Investing.com - The U.S. trade deficit widened unexpectedly in May, hitting the highest level since May 2011, official data showed on Wednesday.
In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit widened to a seasonally adjusted USD45.0 billion in May from a deficit of USD40.2 billion in April, whose figure was revised down from a previously reported deficit of USD40.3 billion.
Analysts had expected the U.S. trade deficit to narrow to USD40.1 billion in May.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.12% to trade at 1.2965.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures indicated a loss of 0.3% at the open, S&P 500 futures pointed to a drop of 0.3%, while the Nasdaq 100 futures indicated a decline of 0.3% at the open.
In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit widened to a seasonally adjusted USD45.0 billion in May from a deficit of USD40.2 billion in April, whose figure was revised down from a previously reported deficit of USD40.3 billion.
Analysts had expected the U.S. trade deficit to narrow to USD40.1 billion in May.
Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.12% to trade at 1.2965.
Meanwhile, U.S. stock index futures remained lower. The Dow Jones Industrial Average futures indicated a loss of 0.3% at the open, S&P 500 futures pointed to a drop of 0.3%, while the Nasdaq 100 futures indicated a decline of 0.3% at the open.