The US trade deficit fell to its lowest level since 2009, reflecting the changing nature of the US economy, following the restructuring under Trump. Trump has refocused on building domestic production and reducing the dependence on imports. The trade balance has shifted sharply and it looks like a trade surplus, will be coming in 2026. The US Dollar gained ground, with the EUR slumping to 1.1650, while the GBP crashed to 1.3430.The rising reserve hit the recently emboldened commodity currencies, with the AUD surrendering 0.6700, while the NZD trading around 0.5750. The ADP and Challenger Jobs reports revealed a slight recovery in the US labour market and we now await confirmation, with tonight’s Non-Farm Payroll number.
