Goods Trade Balance (USD) comes in at -132.636B against -111.11B consensus

The US Goods Trade Balance for September came in at a deficit of -132.636 billion USD. This figure was significantly wider than the consensus expectation of -111.11 billion USD, representing a -19.4% surprise against the forecast. The previous month’s deficit was -118.806 billion USD.

Following the release, the US Dollar showed broad weakness against major currencies in the initial 15 minutes. AUDUSD rose 14 pips, EURUSD gained 15 pips, GBPUSD was up 15 pips, and NZDUSD increased by 13 pips. USDCAD fell 20 pips, USDCHF dropped 17 pips, and USDJPY declined 25 pips. Gold, XAUUSD, saw a significant rise of 207 pips. For most pairs, these moves are larger than their respective median 1-hour moves, such as AUDUSD’s median of 7 pips and EURUSD’s median of 11 pips. USDJPY’s 25 pip move is notably above its median 1-hour move of 8 pips and entered its top-quarter range of 18+ pips. XAUUSD’s 207 pip gain is substantially larger than its median 1-hour move of 33 pips and its top-quarter range of 56+ pips.