US: Goods and Services Trade deficit shrinks to $87.1B in April versus $89.5B expected

According to the latest data from the Bureau of Economic Analysis and US Census Bureau, the US Goods and Services Trade deficit shrunk to $87.1B in April. That was a little smaller than the expected decrease to $89.5B from $109.80B in March. 

The Goods trade deficit was $107.74B in April and the Services trade surplus was $20.66B. In total, exports were up 3.5% MoM versus March at $252.62B, while Imports were up 4.9% $339.7B. 

The US trade deficit with China fell to $30.57B from $34B in March. Finally, the average price of US oil imports rose to $94.99 per barrel in April, up from $87.20 one month earlier. 

Market Reaction

Currency markets did not react to the latest US trade data.