Trade Balance

US trade balance in goods and services, negative = trade deficit.

Trade Balance is part of the FX & Dollar category. The dollar is the single largest macro variable for cross-asset returns. A rising dollar tightens global financial conditions, pressures emerging-market funding, and compresses commodity prices denominated in USD. Real effective exchange rates strip out inflation differentials, revealing whether a currency is genuinely appreciating or just keeping pace with domestic price levels.

Trade Balance is updated once per month when the releasing agency publishes new data. Each metric page on Convex shows the exact time of the last data update and provides historical data going back up to five years.

Convex sources Trade Balance data from the Federal Reserve Economic Data (FRED) API, maintained by the Federal Reserve Bank of St. Louis. Data is fetched automatically and displayed alongside interactive charts, AI analysis, and historical context.

The Trade Balance page includes an interactive chart with selectable time ranges (1 month to 5 years), percentage changes over multiple timeframes, a table of recent readings, AI-generated analysis, and links to related metrics and comparisons.