The US trade balance deficit increased by 0.2%, thereby reaching $42bn. This is the biggest growth in 4 months. The report was published yesterday by the US Department of Commerce.
The external trade deficit for June was revised down to $41,9bn. The forecasts were less optimistic ($44bn).
The deficit increased mainly due to lower export (the lowest volume in 4 months). Secondary factors included the eurozone crisis as well as the economic slowdown seen in emerging markets.
The US expert volume declined by 1% down to $183.3bn in June. The import declined by 0.8% down to $225.3bn. The highest deficit was seen in the bilateral trade with China - $29,4bn.
Forex.
According to , the US Dollar index keeps weakening against a basket of other major currencies.
The closest levels of support are 79,73 and 79,55. The current bearish move will be completed as soon as the price overcomes the top of the MF sloping channel and consolidates above 81,46 (as shown below).
