Data released on Wednesday, showed the US trade deficit in June narrows to 50.7B, as exports surged by a record pace. Analysts at Wells Fargo warn that exports remain further off their pre-virus level, and re-accelerating COVID-19 cases present downside risk to imports. Key Quotes: “U.S. exports surged a record 9.4% in June, while imports rose a more modest 4.7%. Although exports rebounded more, causing the overall trade deficit to narrow, imports are just 15.2% off their pre-virus February level compared to over 25% for exports.” “This report signals activity began to recover in June, but as COVID cases have re-accelerated domestically and abroad the question remains to what extent the rebound progresses. Barring renewed lockdowns, we expect a continued albeit modest recovery in Q3.” FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Canada: Goods trade may have provided a small lift to economy in Q2 – NFB FX Street 2 years Data released on Wednesday, showed the US trade deficit in June narrows to 50.7B, as exports surged by a record pace. Analysts at Wells Fargo warn that exports remain further off their pre-virus level, and re-accelerating COVID-19 cases present downside risk to imports. Key Quotes: “U.S. exports surged a record 9.4% in June, while imports rose a more modest 4.7%. Although exports rebounded more, causing the overall trade deficit to narrow, imports are just 15.2% off their pre-virus February level compared to over 25% for exports.” “This report signals activity began to recover in June, but as COVID cases have re-accelerated… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.
