US: Goods and services deficit narrowed to $54.0 billion in July

• US trade deficit narrows less than expected in July.
• US Dollar Index continues to consolidate its daily fall near 98.60. 

The data published jointly by the US Census Bureau and the US Bureau of Economic Analysis today showed that the goods and services deficit narrowed to $54.0 billion in July from $55.5 billion in June but came in slightly worse than the market expectation of $53.5 billion.

The USD's reaction to the data was muted and the US Dollar Index was last down 0.32% on the day at 98.64.

"July exports were $207.4 billion, $1.2 billion more than June exports. July imports were $261.4 billion, $0.4 billion less than June imports," the US Census Bureau said in its press release. "The July decrease in the goods and services deficit reflected a decrease in the goods deficit of $1.6 billion to $73.7 billion and a decrease in the services surplus of $0.1 billion to $19.7 billion."