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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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Free AccessMay trade deficit narrowed to -$43.1b from..>
US DATA: May trade deficit narrowed to -$43.1b from -$46.1b in April, a
slightly narrower gap than -$43.5b exp, even as the census goods gap
(-$64.8) was little changed from the advance estimate.
- The April and May chained-dollar trade data suggest a smaller net
export gap for 2Q GDP than in 1Q when it is released in a few weeks.
- Exports rose solidly on gains in capital goods (+$2.0b, aircraft
+$1.9b), food and feeds (+$1.7b), and consumer goods (+$0.6b). These
were offset by declines in industrial supplies (-$1.3b) and autos (-$0.4b).
- The sharp decline in industrial supply exports could be a sign of
reduced capital expenditures on the part of trading partners ahead of
tariff implementation. The June data should show a larger tariff impact.
- The NSA trade gap with China widened sharply to -$33.2b from -$28.0b
in April, while the trade gap with Canada nearly doubled to -$1.5b from
-$0.8b and the gap with Mexico widened to -$6.7b from -$5.7b,
interesting ahead of the tariff implementations
- Imports rose more modestly on capital goods (+$2.1b, telecomm +$0.6b)
and foods (+$0.1b) that were offset by consumer goods (-$0.5b), autos
(-$0.3b), and industrial supplies (flat, crude oil (-$0.7b).
To read the full story
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.