Stability in U.S trade deficit!!!!

The trade deficit in October’06 was $58.8bn and this figure caused some tension in the U.S economy market. But soon in the next month the trade deficit shrunk to $58.2bn in November’06 showing some improvement in the U.S trade market. The improvement was mainly due to lower oil prices, and rise in U.S exports. But whatever may be the reason, the trade deficit is shriveling and boosting up the dollar from angst. Improving the trade position in the U.S may heighten up the GDP growth by 1% point.

Yesterday, the dollar gained 0.4% against the Euro and 0.2% against the Turkish Lira. And it also rose 0.4% against the Indonesia’s Rupaiah. The trade deficits which were very massive in U.S earlier some two-to-three months back are now stabilizing and the dollar is enjoying some firmer tone now against its major trading participants. On the other hand, the Yen is bouncing back against the Euro by dipping it by 0.2%.