US Trade Deficit Narrows to 34.2 Billion in June

The US trade deficit fell by 22.4% to $34.2bn (£22.3bn) in June, the smallest gap since October 2009.

The percentage contraction was also the largest since February 2009.

The three-month average of the trade deficit, which irons out monthly volatility, also fell to $39.5bn in the three months to June from $40.5bn in the previous period.

Meanwhile, May’s trade shortfall was revised to $44.1bn from the previously reported $45.0bn.

The smaller June deficit could lead the government to revise economic growth for the April-to-June quarter up from its initial estimated annual rate of 1.7%.

via BBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza