The U.S. trade deficit in June came in lower than expected and significantly narrower compared to the previous month.
This macroeconomic reading may suggest a gradual positive effect of tariffs, increased export competitiveness, and a concurrent slowdown in imports. It represents a mildly positive signal for the U.S. dollar and GDP outlook. The June trade balance stood at -$60.2 billion, slightly better than the -$61 billion forecast, and notably below the -$71.5 billion recorded in May.
The data are mildly supportive for the dollar. The market’s focus now shifts to the ISM Services reading for July, scheduled for release at 2 PM GMT.
Source: xStation5
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