The Commerce Department released a report on Tuesday showing the U.S. trade deficit unexpectedly shrank in the month of November.
The report said the trade deficit narrowed to $63.2 billion in November from a revised $64.5 billion in October. Economists had expected the trade deficit to widen to $65.0 billion from the $64.3 billion originally reported for the previous month.
The unexpectedly smaller trade deficit came as the value of imports tumbled by 1.9 percent to $316.9 billion, while the value of export slumped by 1.9 percent to $253.7 billion.
At 12 pm ET, Federal Reserve Vice Chair for Supervision Michael Barr is due to participate in a “Bank Regulation” moderated discussion with Women in Housing and Finance.
The Treasury Department is scheduled to announce the results of this month’s auction of $52 billion worth of three-year notes.