U.S. trade deficit narrows 22.4% to lowest since October 2009 in June

Investing.com - The U.S. trade deficit narrowed significantly more-than-expected in June to hit the lowest level since October 2009, official data showed on Tuesday.In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit narrowed by 22.4% to a seasonally adjusted USD34.2 billion in June from a deficit of USD44.1 billion in May, whose figure was revised down from a previously reported deficit of USD45.0 billion.Analysts had expected the U.S. trade deficit to narrow to USD43.5 billion in June. The data showed that U.S. exports rose 2.2% in June to USD191.2 billion, while imports fell 2.5% to USD225.4 billion.Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD adding 0.17% to trade at 1.3281.Meanwhile, U.S. stock index futures held on to mild losses. The Dow Jones Industrial Average futures indicated a loss of 0.2% at the open, S&P 500 futures pointed to a drop of 0.2%, while the Nasdaq 100 futures indicated a decline of 0.1% at the open.
Investing.com - Investing.com offers an extensive set of professional tools for the financial markets. Read more News on Investing.com or Follow us on Twitter at @InvestingCom