US: Trade deficit likely to widen to $45.4bn in June - Nomura

Analysts at Nomura expect the US trade deficit to widen to $45.4bn in June from $43.1bn in May, driven by a wider-than-expected goods trade deficit as goods exports faltered during the month.

Key Quotes

“Advance data indicate that goods exports likely slowed, with broad-based declines in product categories. Goods imports likely continued to rise at a modest pace. We expect continued steady improvement in service trade balance.”