Forex News: US Trade Balance due to be released at 8:30 AM

On Thursday at 8:30 AM the US Trade Balance will be released for the month of February.  Last month the deficit grew slightly to 58.2 Billion from 57.9 billion in December.   The deficit was a great as -67.6 billion in August of 2006.  However, since October of 2006, the deficit has been between -57 and -63 billion.  The lower US dollar has helped contribute to the improvement as exports have steadily grown as US goods and services become more competitive overseas.

On the import side, the US dependence on foreign oil has kept imports high – despite less overall demand due to slower US spending.  In fact, excluding petroleum imports, the trade gap was the smallest since October 2002 indicating slower domestic demand for foreign goods. 

This month the deficit is expected to lessen to 57.5B.  This would represent the lowest level since September 2007