Last month Goods trade balance was revised to -61.276B from -58.411B
The advanced goods trade balance for November came in at - 60.5B vs. estimates of -60.870B.
- Imports fell 1.8% in Nov. to 181.472B from 184.713B.
- Exports fell 2% to 120.97B vs 123.437B
The prior month deficit was revised lower to -61.276B from the original -58.411B. The larger deficit, should have a negative impact on GDP estimates for 4Q. However, that was apparently reflected in a revision when the goods and service deficit was released a few weeks after last month's goods trade release.
The trade data for both goods and services are released a week or so after the goods deficit. It will be released on January 6th, 2016 at which time, this figure may be revised.
The EURUSD does not seem to mind. The pair has moved to new session lows (as has the GBPUSD) after the news.
Later today, the S&P Case Schiller home price data will be released at 9:00 AM ET with estimates for a MoM increase of 0.6%. The YoY composite index is expected to show a gain of 5.6%. At 10 AM ET, the US Consumer confidence is due. Estimates are for the index to rise to 93.8 from 90.4.
