A report released by the Commerce Department on Wednesday showed the U.S. trade deficit narrowed significantly in the month of July.
The Commerce Department said the trade deficit shrank to $70.6 billion in July from a revised $80.9 billion in June.
Economists had expected the trade deficit to narrow to $70.3 billion from the $79.6 billion originally reported for the previous month.
The trade deficit for July represents the smallest deficit since the $68.2 billion reported for last October.
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Forex News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.