Data released today showed that the US trade deficit narrowed to $54.0 billion in July. Analysts at Wells Fargo explained gains in exports outweighed a modest decline in imports. They see the data does not reflect the most recent escalation in the US-China trade war. Key Quotes: “With global growth weakening, goods exports are slowing on trend, and not just to China. The export orders component of the ISM manufacturing index suggests exports are set to slow further in coming months.” “The most recent escalation of a 15% tariff on $111B of imports from China that was announced in August went into effect on Sunday. That means the new tranche in the trade war, which affects mostly consumer products, did not affect trade in July.” “There is no denying the trade war is reducing trade flows. Given weakening global growth and further escalation in the trade war set to take place, we do not expect much relief for global trade.” 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 Bitcoin Cash technical analysis: BCH/USD demonstrating vulnerabilities within narrowing daily range block FX Street 4 years Data released today showed that the US trade deficit narrowed to $54.0 billion in July. Analysts at Wells Fargo explained gains in exports outweighed a modest decline in imports. They see the data does not reflect the most recent escalation in the US-China trade war. Key Quotes: "With global growth weakening, goods exports are slowing on trend, and not just to China. The export orders component of the ISM manufacturing index suggests exports are set to slow further in coming months." "The most recent escalation of a 15% tariff on $111B of imports from China that was announced… 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.
