By CountingPips.com
The United States trade deficit widened by more than expected for a second consecutive month in March, according to a release by the Commerce Department today. The U.S. trade deficit in goods and services increased by 6 percent or $8.7 billion as the deficit leveled at $48.2 billion in March following a revised deficit of $45.4 billion in February. The March data represents the highest deficit level since June of 2010.
The trade data surpassed market forecasts that were expecting a deficit of approximately $47.0 billion for the month.
The U.S. had a total of $172.7 billion worth of exports in March which was an increase of $7.7 billion from February’s total. March also saw an increase in imports with a
The politically sensitive U.S. trade deficit with China edged lower in March with a $18.1 billion shortfall after a deficit of $18.8 billion in February. Other notable U.S. trade deficits in March were the deficits with the European Union at $9.0 billion, Mexico at $6.2 billion, Japan at $6.1 billion and OPEC at $10.8 billion.
The U.S. trade surpluses with other countries for March included Hong Kong at $2.7 billion, Australia at $1.1 billion and Singapore at $0.9 billion.
Forex: US Dollar stronger in trading today. Stocks, Commodities lower.
The U.S. dollar has been on the rise today in the forex markets while the American stock markets and commodities have traded lower. The dollar has advanced versus the euro, Canadian dollar, New Zealand dollar, Japanese yen, Swiss franc, British pound sterling and Australian dollar on the day, according to currency data by Oanda.
The U.S. stock markets had a negative session so far today with the Dow falling by 130 points, the Nasdaq decreasing by over 26 points while the S&P 500 fell by over 15 points at the close of trading.
In commodities, oil has traded lower by $4.58 or almost 5 percent to $99.12 per barrel while gold has fallen by $12.40 to trade at the $1,504.20 per ounce level.