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U.S. trade deficit shrinks 7% to $41.5 billion in June

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Investing.com -

Investing.com - The U.S. trade deficit narrowed unexpectedly in June to hit the lowest level in five months, as exports inched up 0.1% and imports fell 1.2%, official data showed on Wednesday.

In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit shrank to a seasonally adjusted $41.54 billion in June from a deficit of $44.66 billion in May, whose figure was revised from a previously reported deficit of $44.4 billion.

Analysts had expected the U.S. trade deficit to widen to $44.7 billion in June.

U.S. exports rose 0.1% to $195.86 billion in June, while imports declined 1.2% to $237.40 billion.

Following the release of the data, the U.S. dollar held on to gains against the euro, with EUR/USD shedding 0.22% to trade at 1.3347.

Meanwhile, U.S. stock index futures pointed to a lower open. The Dow pointed to a loss of 0.4%, the S&P 500 indicated a decline of 0.45%, while the Nasdaq 100 signaled a drop of 0.5%.

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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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