Stocks on Wall Street lose ground as the US trade deficit widened in December and the shortfall with China worsened, despite US President Donald Trump's tariffs.
The Australian share market could be in for a small gain at the start of trade, despite a mixed lead from overseas markets and falls on Wall Street.AUD: 70.28 US cents, 53.35 British pence, 62.13 euro cents, 78.54 Japanese yen, $NZ1.038Europe: FTSE 100 +0.2pc at 7,196, DAX -0.3pc at 11,587, CAC -0.2pc at 5,288, Euro Stoxx 50 +0.
Despite Washington imposing tariffs on $US250 billion worth of Chinese goods, the goods deficit with China rose to all-time high last year. Markets are struggling for direction as traders await any update on negotiations between the US and China on a trade agreement.The Fed said slowing global growth and the government shutdown weighed on the US economy at the start of the year but that it continued to grow.
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