US: Goods and services deficit was $55.2 billion in June vs. $54.6 billion expected

• Goods and services trade deficit come in slightly worse than expected.
• US exports and imports both declined in June.

The data published jointly by the US Census Bureau and the US Bureau of Economic Analysis,  the goods and services deficit was $55.2 billion in June, down $0.2 billion from $55.3 billion in May  but higher than the market expectation of $54.6 billion.

The US Dollar Index (DXY) largely ignored the data as investors continue to asses the labour market data, which showed that the Nonfarm Payrolls increased 164,000 in July to match analysts’ estimate. At the moment, the DXY is down 0.13% on the day at 98.27.

“June exports were $206.3 billion, $4.4 billion less than May exports,” the press release read. “June imports were $261.5 billion, $4.6 billion less than May imports.”