News & Analysis at your fingertips.

We use a range of cookies to give you the best possible browsing experience. By continuing to use this website, you agree to our use of cookies.
You can learn more about our cookie policy here, or by following the link at the bottom of any page on our site.

0

Notifications

Notifications below are based on filters which can be adjusted via Economic and Webinar Calendar pages.

Live Webinar

Live Webinar Events

0

Economic Calendar

Economic Calendar Events

0
Free Trading Guides
EUR/USD
Mixed
Oil - US Crude
Bullish
Wall Street
Bearish
Gold
Mixed
GBP/USD
Bullish
USD/JPY
Mixed
More View more
Real Time News
  • Tune in to @nickcawley1 's #webinar at 6:30 AM ET/10:30 AM GMT to prepare for key UK events and markets in the week ahead. Register here: https://t.co/xewSeUoDaT https://t.co/I8N4F5SmRK
  • Germany 30 IG Client Sentiment: Our data shows traders are now net-long Germany 30 for the first time since Sep 08, 2020 when Germany 30 traded near 12,883.80. A contrarian view of crowd sentiment points to Germany 30 weakness. https://www.dailyfx.com/sentiment https://t.co/PrXKfwUQbT
  • UK's Hancock says final decisions have not been taken in response to surge in COVID cases $GBP
  • #SP500 futures tumbling through Bear Flag support at the 3300 mark. Implied measured move suggests a push to 3000 could be on the cards if price breaks below the June high (3231.25) $ES $SPX https://t.co/o26aOMmin8 https://t.co/pS7A9CVmt6
  • For those who like taking a look through memory lane, stocks (SPX) are heading to its historically worst patch in the year (Historical average based on 1990-2019 performance) https://t.co/RuhNxy6TYr
  • US futures tumble and European equities trade sharply lower: - S&P 500 (-0.34%) - Nasdaq 100 (-1.6%) - Dow Jones (-2.08%) - DAX (-2.86%)
  • $USDJPY plunging to its lowest levels since March as support at the July low (104.18) gives way. Daily close below the 104 level could bring the March 12 swing-low (103.08) into focus Is $USDJPY headed to parity? https://t.co/QtlWIPKbU6
  • Technical indicators are chart analysis tools that can help traders better understand and act on price movement. Learn more about the importance of technical analysis here: https://t.co/NpC1D8y4Aa https://t.co/7fMGgU3vUn
  • RT @MrMBrown: $GBP looks to be in for a rough ride this week - mounting speculation of tighter covid restrictions; Brexit trade talks remai…
  • 🇪🇸 Balance of Trade (JUL) Actual: €-0.31B Previous: €1.48B https://www.dailyfx.com/economic-calendar#2020-09-21
US Trade Gap Widened Amid Slowing Global Growth, Strong US Dollar

US Trade Gap Widened Amid Slowing Global Growth, Strong US Dollar

2015-10-06 18:21:00
Ryan Cox,
Share:

Talking Points:

  • The US trade deficit increased 15.6 percent in August to $41.81 billion
  • Exports from the US decreased 2% from July to $185.1 billion
  • A growing deficit with trading partners may indicate the pressure of a strong US dollar

Macroeconomic events affect currency valuations. Stay updated with major releases on our calendar.

The US trade deficit widened in August as exports dropped to their lowest level in nearly three years. The US Department of Commerce issued a report Tuesday morning that revealed the US trade gap rose more than expected to a $48.3 billion shortfall in August. The department had also revised its estimate for July’s deficit to $41.81 billion from the initial reading of $41.86 billion. The increase in August’s reading made it a 15.6 percent jump from July. Economist surveyed by Bloomberg had forecasted a trade deficit reading of $48.0 billion for August with the actual reading posting 6.8 percent above expectations.

In the breakdown, imports increased $2.8 billion (1.2 percent) from July to $233.5 billion in August. Exports decreased $3.7 billion (2 percent) from July to $185.1 billion in August. Both slowing global growth and a rising dollar seem to be contributing to pressure on US exports while simultaneously making imports cheaper. The deficit with two of the largest US trading partners, China and the European Union, increased 10.7 percent and 9 percent respectively.

The US Dollar had a tepid initial reaction to the trade balance data but has since continued downward movement from its session high of 12068.51, to as low as 12011, a 0.47 percent decrease.

US Trade Gap Widened Amid Slowing Global Growth, Strong US Dollar

DailyFX provides forex news and technical analysis on the trends that influence the global currency markets.

DISCLOSURES