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

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Forex Pros - The U.K.'s goods trade deficit widened more-than-expected in March, official data showed on Wednesday.

In a report, the U.K. Office for National Statistics said the country's goods trade deficit widened to a seasonally adjusted GBP7.7 billion in March, compared to a deficit of GBP7.0 billion in February, whose figure was revised from a deficit of GBP6.8 billion.

Economists had expected the goods trade deficit to widen to GBP7.4 billion in March.

The report said that the total trade deficit widened to GBP3.0 billion in March, compared to a deficit of GBP2.7 billion the previous month. Analysts had expected the total trade deficit to widen to GBP3.25 billion.

Following the release of that data, the pound was up against the U.S. dollar, with GBP/USD adding 0.1% to hit 1.6384.

Meanwhile, European stock markets were mixed. The FTSE 100 shed 0.05%, the EURO STOXX 50 rose 0.3%, France's CAC 40 gained 0.17%, while Germany's DAX was up 0.45%.

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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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