U.S. International Trade in Goods and Services, July 2026
The U.S. goods and services trade deficit increased in July 2026 according to the U.S. Bureau of Economic Analysis and the U.S. Census Bureau. The deficit increased from $71.2 billion in June (revised) to $88.6 billion in July, as imports increased and exports decreased. The goods deficit increased $17.6 billion in July to $119.6 billion. The services surplus increased $0.2 billion in July to $31.0 billion.
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OBSERVED RESPONSE
AWAITING OBSERVED RESPONSE
Expected sensitivities are available, but ME Standard has not recorded a qualifying post-event market reaction window yet.
- No qualifying post-event market reaction window is recorded yet.
EXPECTED SENSITIVITY
Relationships to monitor
Transparent relationship rules identify markets worth monitoring; they are not directional forecasts.
- USDdirect macro sensitive
US policy and macro information can reprice broad USD conditions.
- US10Ycross-market sensitive
US Treasury yields often transmit policy and macro repricing.
- GOLDUSD/real-yield sensitive
Gold is exposed to the USD and real-yield transmission channels.
EXPECTED RELATIONSHIP ≠ OBSERVED RESPONSE ≠ PROVEN CAUSALITY.