US: Trade deficit widens to $54.6 billion in May

The United States' international trade deficit widened to $54.6 billion in May from $49.8 billion in April, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis showed on Thursday. This reading came in slightly worse than the market expectation for a deficit of $53 billion.

"May exports were $144.5 billion, $6.6 billion less than April exports," the press release further read. "May imports were $199.1 billion, $1.8 billion less than April imports."

Market reaction

Despite this data, the market mood remains upbeat and the greenback struggles to find demand. As of writing, the US Dollar Index was down 0.22% on the day at 96.95.