How Gram reacted to the International Trade Balance in Goods and Services on 12 March 2026

The release

Released by the Bureau of Census, Bureau of Economic Analysis on 12 March 2026 at 8:30 AM EDT. The deficit narrowed to $54.7B for January 2026, from $72.9B (The International Trade Balance in Goods and Services).

It arrived at the same moment as International Imports in Goods and Services, International Exports in Goods and Services, Initial Jobless Claims and Continued Jobless Claims, so the reaction measured on this page belongs to all of them together.

How Gram moved

Gram was at $1.330 when the figure came out. Fifteen minutes later it was unchanged, and an hour later unchanged. Its high-to-low range in the hour after was 0.75% of its price, against 0% in the hour before.

Measured by Clometrix

Gram's volume ratio was 1.47x, against a typical 1.39x. Its volatility ratio could not be measured: the price barely moved through the rest of the day, so there is no ordinary quarter hour to compare against. The ratio compares the quarter hour of the release with an ordinary quarter hour that same day, where 1.00x is no change.

What made it matter

Since 2021, Balance of Trade releases in the two weeks before a Fed decision have moved Gram about as much as those at other times: a median volatility ratio of 1.00x across 9, against 1.01x across 16. This one came out 6 days before the Federal Reserve's 18 March rate decision.

Its record

Across 25 Balance of Trade releases since 2021, Gram's median volatility ratio is 1.01x.

What is the International Trade Balance in Goods and Services?

Every Balance of Trade release for Gram