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The US merchandise trade deficit widened to a record level in November due to a jump in imports and a fall in exports.
The US Commerce Department said on Wednesday that the goods trade deficit increased 17.5 percent last month to $97.8 billion, from $83.2 billion in October. That exceeds the previous record deficit recorded in September of 97 billion dollars.
Exports decreased 2.1 percent, while imports increased 4.7 percent.
The US dollar index rose today with the support of US statements, and the recovery of risk appetite in the markets, to settle at the level of 96.23 points, an increase of 0.09%, and investors are awaiting any new developments in the markets that would clearly affect the US dollar’s trading against other currencies.
Crude oil inventories in the United States decreased by 3.09 million barrels in the week ending December 24, according to special reports from the American Petroleum Institute on Tuesday. The reserves in Cushing, Oklahoma, are claimed to have increased by 1.6 million barrels. Gasoline stocks fell by 319,000 barrels. While distillate stocks decreased by 716,000 barrels, according to the data received.
