U.S Trade Balance Narrows at -$50.1B - 8.6.2012
U.S Trade Balance deficit narrowed to -$50.1 billion in April from the revised -$52.6 billion in March. The U.S Bureau of Economic Analysis reported today that the lower deficit in Trade Balance was due to a greater decrease in imports compared to decreasing volume of exports in April. The total April's exports reached $182.9 billion and the total imports - $233.0 billion, which resulted in the -$50.1 trade balance deficit. As Europe is getting deeper into crisis and China’s growth is slowing, the U.S exports may reduce, while recovery in the U.S may increase demand for foreign goods and improvement in the trade balance could be harder to achieve. The US dollar index rose today from the level 82.22 to 82.86, indicating that the currency has been trading stronger against its major peers on Friday.