US: Trade balance for May to post a likely deficit of $46.3bn - Nomura

Analysts at Nomura expect the US trade balance report for May to post a deficit of $46.3bn, which is slightly narrower than the $47.6bn deficit in April.

Key Quotes

“The advance goods trade balance for May was stronger than expectations, with a decent rebound in goods exports. Incorporating this upside surprise, we expect the trade balance report for May to post a deficit of $46.3bn, which is slightly narrower than the $47.6bn deficit in April (Consensus: deficit of $46.3bn). A recovery in goods exports appears consistent with healthy trade activity abroad. On trade of services, we expect exports increased modestly while imports remained unchanged."