Investing.com - The U.S. trade deficit narrowed more than expected in November, as exports dropped 0.9% and imports fell 1.7%, official data showed on Wednesday.
In a report, the U.S. Commerce Department said that the trade deficit declined to a seasonally adjusted $42.37 billion from a deficit of $44.58 billion in October, whose figure was revised from a previously reported deficit of $43.9 billion. Analysts had expected the U.S. trade deficit to narrow to $44.0 billion in November.
U.S. exports fell 0.9% to $182.2 billion, the lowest since 2011, while imports dropped 1.7% to $224.6 billion.
EUR/USD was trading at 1.0736 from around 1.0745 ahead of the release of the data, GBP/USD was at 1.4632 from 1.4635 earlier, while USD/JPY was at 118.59 compared to 118.47 earlier.
The US dollar index, which tracks the greenback against a basket of six major rivals, was at 99.58, compared to 99.52 ahead of the report.
Meanwhile, U.S. stock futures pointed to a lower open. The Dow futures indicated a decline 1.5%, the S&P 500 futures indicated a drop of 1.65%, while Nasdaq 100 futures tumbled 1.9%.
Elsewhere, in the commodities market, gold futures traded at $1,083.90 a troy ounce, compared to $1,086.00 ahead of the data, while crude oil traded at $34.81 a barrel from $34.78 earlier.