US: Goods and services deficit narrow to $70.6 billion in July vs. $70.3 billion expected

• International goods and services deficit of the US narrowed sharply in July.
• US Dollar Index clings to strong daily gains above 110.50.

The data published by the US Census Bureau showed on Wednesday that the goods and services deficit narrowed by $10.2 billion to $70.6 billion in July. This reading came in slightly higher than the market expectation for a deficit of $70.3 billion.

"July exports were $259.3 billion, $0.5 billion more than June exports," the publication further read. "July imports were $329.9 billion, $9.7 billion less than June imports."

Market reaction

These figures failed to trigger a significant market reaction and the US Dollar Index was last seen gaining 0.4% on the day at 110.68.