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UK Goods Trade Balance deficit narrowed to £3.3 billion

Thursday, Jun 09 2016
The UK’s deficit on trade in goods and services was estimated to have been £3.3 billion in April 2016, a narrowing of £0.2 billion from March 2016. Both exports and imports increased and the narrowing of the deficit reflects a greater increase in exports than imports. The deficit on trade in goods was £10.5 billion in April 2016; narrowing by £0.1 billion from March 2016. This narrowing reflected an increase in exports (up £2.2 billion to £26.1 billion) and an increase in imports (up £2.0 billion to £36.6 billion).
Between the 3 months to January 2016 and the 3 months to April 2016, the total trade deficit for goods and services narrowed by £2.1 billion to £11.3 billion. The deficit on trade in goods narrowed by £1.5 billion to a deficit of £32.6 billion between the 3 months to January 2016 and the 3 months to April 2016. Exports increased by £4.4 billion (6.4%) and imports increased by £2.9 billion (2.9%).
 
Sterling is currently being traded few points above 1.4470 level. Pair is likely to find support around 1.44 handle and resistance above 1.4530 level. Later today, in the US session, Unemployment Claims figures are scheduled for a release.
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