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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