The US Trade Deficit is to be released at 8:30.  Improvement in this series has been the bright spot for the US economy as the weak dollar has helped make US goods more competitive overseas. 

On the flip side is the effects of oil imports.  Since the US is dependent on imported oil, when the oil price goes up it causes the absolute value of imports to go up as well -  negating some of the export growth gains.  As a result, the gains from the dollar are not fully appreciated.

The Deficit is expected to widen this month from 57.8B to 59.5B in November.  The market will be watching to peal out the oil effect and look for exports to continue the uptrend (as a result of the lower dollar).

Import and Export Growth