July 2017 US trade and goods trade balance data report 6 September 2017

  • The US trade balance came in with a lower deficit of -43.7b vs 44.7B estimate
  • The prior month was revicws to -43.5b vs 43.6B prior
  • Exports fell -0.3%. June saw an increase of +1.4%
  • Imports fell -0.2%. June was down -0.1%
  • China deficit 33.56B vs $32.58 b
  • US OPEC deficit $484 million vs $888 million last month
  • Oil imports price $43.20 vs June $44.68/BBL. That is up 5.3% from last year.

The trade data this year is showing higher deficits (GDP negative). The last few months are up to levels that were nearer the high deficit levels from 2016. There is not much of a reaction in the market.