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U.K. goods trade deficit narrows more-than-expected

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Forex Pros - The U.K.'s goods trade deficit narrowed more-than-expected in April, official data showed on Thursday.

In a report, the U.K. Office for National Statistics said the country's goods trade deficit narrowed to a seasonally adjusted GBP7.4 billion in April, compared to a deficit of GBP7.7 billion in March.

Economists had expected the goods trade deficit to narrow to GBP7.5 billion in April.

Export prices of goods rose by 1.5% and import prices of goods rose by 1.1%, compared with March.

The report said that the total trade deficit narrowed to GBP2.8 billion in April, unchanged from March, whose figure was revised down from a deficit of GBP3.0 billion. Analysts had expected the total trade deficit to narrow to GBP2.9 billion.

Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD climbing 0.27% to hit 1.6447.

Meanwhile, European stock markets were up after the open. The FTSE 100 rose 0.2%, the EURO STOXX 50 gained 0.18%, France's CAC 40 added 0.2%, while Germany's DAX edged 0.3% higher.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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