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The U.S. trade deficit in goods narrowed sharply

The U.S. trade deficit in goods narrowed sharply | 27 April 2023

27 April 2023, USD/JPY

USDJPY trading plan:

The U.S. trade deficit in goods narrowed sharply in March as exports surged and imports declined, which augurs well for economic growth in the first quarter. The goods trade deficit contracted 8.1% last month to $84.6 billion, the Commerce Department said. Exports of goods increased $4.9 billion to $172.7 billion. They were boosted by industrial supplies, which include crude oil, motor vehicles as well as consumer goods. Food exports fell 4.5%. Goods imports fell $2.5 billion to $257.3 billion, pulled down by decreases in industrial supplies, capital goods and other goods. Imports of consumer goods rose 2.4%.

Investment idea: buy 133.39 and take profit 134.11.

David Johnson
Analyst of «FreshForex» company
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