US DATA: Jan trade bal -$37.3b as imports -$3.1b and exports -$0.5b.
Import drop reflected crude oil imports -$2.3b on a drop in volume. Also
in imports was -$1.5b in autos, -$0.6b computers, -$130m civ aircraft, &
drops in consumer goods. Exports saw -0.5b civ aircraft and -0.5b autos
against gains in many other areas. NSA trade bal by country: China
-$18.3b vs -$18.1b Dec, Japan –$3.3b (lowest since May09) vs -$4.6b,
OPEC -$7.2b vs -$6.8b, Canada -$3.9b (highest since Oct08) vs -$3b. The
real trade bal in Jan was little changed from its Q4 avg, suggesting so
far that Q1 trade will be a neutral in the GDP accounts.