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U.S. import and export prices fall less than expected in November

Investing.com -

Investing.com - U.S. import and export prices fell less than expected in November, but still put an end to two consecutive months of increases, official data showed on Tuesday.

In a report, the U.S. Bureau of Labor Statistics said import prices declined by a seasonally adjusted 0.3% last month, less than forecasts for a 0.4% drop. Import prices rose by 0.4% in October, downwardly revised from an initial 0.5% gain.

Export prices also dropped by a seasonally adjusted 0.1% in November, compared to expectations for an decrease of 0.2% and following a 0.2% gain a month earlier.

Immediately following the report, EUR/USD was trading at 1.0629 from around 1.0611 ahead of the data, GBP/USD was at 1.2714 from 1.2707 earlier, while USD/JPY changed hands at 115.03 compared to 115.14 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 100.97, compared to 101.07 ahead of the report.

Meanwhile, U.S. stock futures pointed to a slightly higher open. The Dow futures pointed to a gain of 71 points, or 0.36%, the S&P 500 futures indicated a rise of 7 points, or 0.32%, while the Nasdaq 100 futures increased 19 points, or 0.40%.

Elsewhere, in the commodities market, gold futures traded at $1,165.35 a troy ounce, compared to $1,163.75 ahead of the data, while crude oil traded at $53.12 a barrel from $53.09 earlier.

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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.


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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