(MENAFN– ecpulse) The trade gap would continue to shrink in November to $34.3 billion from a revised of $39.3 billion deficit in October, better than forecast of $40.0 billion.
Exports leaped 0.9 percent to $194.9 billion on rising civilian aircraft and chemical sales.
Imports, on the other hand, dropped 1.4 percent to $229.1 billion in November, as crude oil imports plummeted to $28.5 billion.
The most recent data from the U.S. has suggested the taking is taking serous steps towards recovery.
Fed Chairman Ben Bernanke, who will end his tenure on Jan. 31, said last week “2014 could be better year for the U.S economy.”
The Fed decided in December to cut its stimulus by 10 billion starting from January until nothing by the end of 2014.
The U.S. Senate confirmed on Monday Janet Yellen as the new Chairman of the Federal Reserve Bank after winning a majority of 56 to 26 votes.
As of 13:40 GMT, the green currency pared its lower losses to hover around 80.86 after hitting a high of 80.93 and a low of 80.74, according the dollar index.
Markets will watch carefully the awaited non-farm payrolls report due on Friday.
U.S. employers probably added 195,000 jobs in December, following a gain of 203,000 in November. Unemployment is estimated to linger at four-year low of 7.0 percent.
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