October's trade deficit narrowed sharply to $29.4B, beating expectations of $58.7B and marking a significant improvement from September's $48.1B—the smallest deficit recorded since 2009. The data reflects dual momentum: imports dropped 3.2% while exports climbed 2.6%, signaling reduced domestic demand pressure and stronger external competitiveness. This unexpected contraction in the trade gap could reshape Fed policy expectations and influence risk asset sentiment across crypto and traditional markets.