The Trade Deficit increased to $27 billion in June, expected to increase to $28.4 billion, following $26 billion in May and $28.8 billion in April. June exports increased by $2.4 billion to $125.8 billion, and June imports increased by $3.5 billion to $152.8 billion. Exports increased as a result of increases in export goods-industrial supplies and materials; capital goods; foods, feeds, and beverages; and automotive vehicle parts- and export services–other private services, travel, other transportation, and passenger fares. Imports increased as a result of increases in import goods-industrial supplies and materials; automotive vehicles, parts, and engines; goods, feeds, and beverages; and other goods- and increases in export services-other private services, travel, passenger fares, and direct defense expenditures.
The Commerce Department provided the June figures of the trade balance of the U.S. relative to selected trading partners, in billions of dollars, with surpluses in Hong Kong ($1.4), Australia ($1.0), Singapore ($0.5), and Egypt ($0.2). Deficits were recorded, in billions of dollars, with China ($18.4), OPEC ($5.9), the European Union ($4.5), Japan ($3.7), Mexico ($3.4), Venezuela ($1.8), Canada ($1.6), Nigeria ($1.3), Korea ($0.9), and Taiwan ($0.6).
Today at 2:15 PM EST, the FOMC Policy Statement will be available. Discussed were the contents in the Fed’s Beige Book which was made available July 29th.
Upcoming Releases
Treasury Budget (08/12 at 2:00 PM EST)
FOMC Policy Statement (08/12 at 2:15 PM EST)
Retail Sales (08/13at 8:30 AM EST)
Initial Claims (08/13 at 8:30 AM EST)
Business Inventories (08/13 at 10:00 AM EST)
CPI (08/14 at 8:30 AM EST)
