US Trade Balance comes in at -73.261B against -67.134B consensus
| Pair | Now | Since publish |
|---|---|---|
| EURUSD | — | — |
| USDJPY | — | — |
The US Trade Balance for July came in at a deficit of -73.261B. This figure was wider than the consensus expectation of -67.134B, representing a -9.1% surprise relative to forecasts. The previous month’s deficit was -77.585B.
Following the release, the US Dollar showed broad weakness against major currencies. AUDUSD rose +5.5 pips, EURUSD gained +7.3 pips, and GBPUSD advanced +7.5 pips within 15 minutes. NZDUSD also moved higher by +6.2 pips. Conversely, USDCAD fell -4.7 pips, USDCHF dropped -8.7 pips, and USDJPY declined -9.8 pips. Gold, XAUUSD, saw a significant rise of +108 pips. For most pairs, these initial moves are larger than their respective median 1-hour moves after past releases. For example, EURUSD’s +7.3 pip move is approaching its median 1-hour move of 9 pips, while XAUUSD’s +108 pip move significantly exceeds its median 1-hour move of 28 pips.