Gold Prices Fall Amid Rate Jitters; Copper Steady as China Stimulus Eyed 
The U.S. international trade deficit widened in October to $43.9 billion from a $42.5 billion deficit in September.
Exports of goods and services fell 1.4% on declines in nearly all categories. Services exports were up 0.7% on the month, and are the only category that has gained ground over the past year, up 1.1%. Imports, also fell 0.6%, led by big drops in food & beverages (-4.0%) and industrial supplies (-5.3%).
Adjusted for inflation, real goods exports fell an even larger 2.4%, while real imports were unchanged.
Weaker global growth and a stronger U.S. dollar have hit U.S. manufacturing this year, and the trade sector has been a negative for growth. A wider deficit in October was a continuation on that theme, although it certainly was not outsized by historic standards. Moreover, after a busy week of Fed speeches and a strong November payrolls report out this morning, the trade numbers are not likely to garner much attention.
"Modest global growth is likely to remain a challenge for U.S. exporters going forward. But, while uncertainty about the global economy may have given the Fed pause back in September, Yellen's comments this week certainly indicate that the Fed is comfortable enough with domestic strength to start raising rates at the next meeting - nothing in this report suggests a change to that view", notes TD Economics.
