Sept. 11 (Bloomberg) -- The U.S. trade deficit narrowed in July as exports jumped by the most in three years, to a record.
The gap shrank 0.3 percent to $59.2 billion from a revised $59.4 billion in June that was bigger than previously estimated, the Commerce Department said today in Washington. Economists anticipated a shortfall of $59 billion.
The deficit is unlikely to increase much as growing economies overseas and a weaker dollar fuel demand for American- made machinery, aircraft and automobiles. At the same time, U.S. purchases of foreign goods may cool as the housing slump persists and higher credit costs discourage borrowing, economists said.
With no negative 9/11 event, the path of least resistance could be up. NQ will need to break above 1977, 61.8% and the weekly pivot at 1987.25. ES needs to hold 1458.50 once we are done with opening moves.
The gap shrank 0.3 percent to $59.2 billion from a revised $59.4 billion in June that was bigger than previously estimated, the Commerce Department said today in Washington. Economists anticipated a shortfall of $59 billion.
The deficit is unlikely to increase much as growing economies overseas and a weaker dollar fuel demand for American- made machinery, aircraft and automobiles. At the same time, U.S. purchases of foreign goods may cool as the housing slump persists and higher credit costs discourage borrowing, economists said.
With no negative 9/11 event, the path of least resistance could be up. NQ will need to break above 1977, 61.8% and the weekly pivot at 1987.25. ES needs to hold 1458.50 once we are done with opening moves.
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