Weak US trade balance | 29 Marzo 2023

GBPUSD trading plan:

The U.S. trade deficit in goods widened modestly in February as exports declined, potentially setting up trade to be a small drag on economic growth in the first quarter. The trade deficit increased 0.6% to $91.6 billion, the Commerce Department said. With the services surplus on track for a decline this quarter, net exports seem likely to exert a mild drag on the first-quarter GDP calculations after having added about half a percentage point to growth in the fourth quarter. Imports of goods slipped 2.3% to $259.5 billion. Imports of motor vehicles and parts tumbled 7.1%, while those of consumer goods dropped 5.6%. There were also decreases in imports of food and industrial supplies. But imports of capital goods as well as other goods increased.

Investment idea: buy 1.2260 and take profit 1.2342.