US Goods Trade Deficit Widens to Biggest in More Than a Year

The US merchandise trade deficit expanded in May to $105.8B, reaching its largest gap in over a year as imports rose and exports declined. This widening deficit could lead to a weaker dollar, which may impact GDP growth. Conversely, such a trend could potentially benefit USD-priced risk assets, specifically Bitcoin. The increase reflects a significant shift in the US goods trade balance, marking the most substantial deficit seen in more than twelve months.