The following is from Just the News.

The US trade deficit narrowed sharply to $29.4 billion, down from $48.1 billion in the prior report.

The figure came in far below expectations. Forecasts had projected a deficit of $58.1 billion, according to Investing.com. The latest number reflects an $18.7 billion drop and is $28.7 billion lower than predicted.

The deficit is now at its lowest level since 2009, according to news reports.

While the US continues to import more goods and services than it exports, the improved trade balance could help strengthen the US dollar. A stronger dollar may increase foreign demand for the currency, potentially leading to further appreciation.

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