Investing.com - The U.S. trade deficit widened less than expected in May, as exports edged down 0.8% and imports slipped 0.1%, official data showed on Tuesday.
In a report, the U.S. Bureau of Economic Analysis said that the U.S. trade deficit rose to a seasonally adjusted $41.87 billion in May from a deficit of $40.7 billion in April, whose figure was revised from a previously reported deficit of $40.88 billion. Analysts had expected the U.S. trade deficit to widen to $42.6 billion in May.
U.S. exports edged down 0.7% to $188.6 billion in May, while imports declined 0.1% to $230.47 billion.
EUR/USD was trading at 1.0924 from around 1.0923 ahead of the release of the data, GBP/USD was at 1.5428 from 1.5424 earlier, while USD/JPY was at 122.49 compared to 122.47 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 97.42, compared to 97.39 ahead of the report.
Meanwhile, the outlook for U.S. equity markets was downbeat. The Dow futures indicated a loss of 0.2% at the open, the S&P 500 futures pointed to a decline of 0.2%, while Nasdaq 100 futures shed 0.25%.
Elsewhere, in the commodities market, gold futures traded at $1,164.80 a troy ounce, compared to $1,164.10 ahead of the data, while crude oil traded at $52.57 a barrel from $52.38 earlier.