US: Goods and services deficit narrow to $70.6 billion in July vs. $70.3 billion expected

International goods and services deficit of the US narrowed sharply in July.
US Dollar Index clings to strong daily gains above 110.50.

Eren Sengezer FXStreet

The data published by the US Census Bureau showed on Wednesday that the goods and services deficit narrowed by $10.2 billion to $70.6 billion in July. This reading came in slightly higher than the market expectation for a deficit of $70.3 billion.

"July exports were $259.3 billion, $0.5 billion more than June exports," the publication further read. "July imports were $329.9 billion, $9.7 billion less than June imports."

Market reaction

These figures failed to trigger a significant market reaction and the US Dollar Index was last seen gaining 0.4% on the day at 110.68.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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