US: Goods and services deficit expands to $70.5 billion in February vs. $69 billion expected

• US Goods and Services Trade Balance came in at -$70.5 billion in February.
• US Dollar Index stays in daily range near 101.50.

The United States international trade deficit in goods and services rose by $1.9 billion to $70.5 billion in February, the data published jointly by the US Census Bureau and the US Bureau of Economic Analysis revealed on Wednesday. This reading came in worse than the market expectation for a deficit of $69 billion.

"February exports were $251.2 billion, $6.9 billion less than January exports," the publication further read. "February imports were $321.7billion, $5.0 billion less than January imports."

Market reaction

Following the technical correction seen earlier in the day, the US Dollar Index is struggling to gather recovery momentum and was last seen unchanged on the day at 101.55.