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U.S. trade deficit sinks 16.9% to $35.4 billion in February

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Investing.com -

Investing.com - The U.S. trade deficit widened narrowed to the lowest level since 2009 in February, as exports dropped 1.6% and imports declined 4.4%, official data showed on Thursday.

In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed to a seasonally adjusted $34.44 billion in February from a deficit of $42.68 billion in January, whose figure was revised from a previously reported deficit of $41.8 billion.

Analysts had expected the U.S. trade deficit to narrow to $41.2 billion in February.

U.S. exports fell 1.6% to $186.25 billion in February, while imports decreased 4.4% to $221.69 billion.

EUR/USD was trading at 1.0823 from around 1.0835 ahead of the release of the data, GBP/USD was at 1.4797 from 1.4814 earlier, while USD/JPY was at 119.76 from 119.63 earlier.

The US dollar index, which tracks the greenback against a basket of six major rivals, was at 98.15, compared to 98.04 ahead of the report.

Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures pointed to a drop of 0.15%, the S&P 500 futures shed 0.2%, while the Nasdaq 100 futures slumped 0.2%.

Elsewhere, in the commodities market, gold futures traded at $1,203.70 a troy ounce, compared to $1,204.80 ahead of the data, while crude oil traded at $48.75 a barrel from $48.82 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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