The U.S. trade deficit widened to $74.6 billion in April (consensus -$75.3 billion) from an upwardly revised $60.6 billion (from -$64.2 billion) in March, which was recalculated with annual revisions to the goods and services series.
The widening deficit in April was the result of exports being $9.2 billion less than March exports and imports being $4.8 billion more than March imports.
The key takeaway from the report is the drop in exports, which reflects weakening demand abroad for U.S. goods.
The U.S. Dollar Index is down 0.2% to 103.95.