Keep an eye on the important release for the loonie
The level of GDP growth for Canada will be published on June 28, at 15:30 MT time.
China demonstrates record trade surplus with America
In June, China's trade surplus with America established another record because exports speeded up broadly. The given outcome could further worsen a fierce trade conflict with the United States.
The given data showed up after on Tuesday the US government made up its mind to increase the stakes in its everlasting trade feud with China, stressing it would impose 10% duties on an additional $200 billion worth of China’s export. Among the victims were a lot of consumer items.
As a matter of fact, China's trade surplus with America, which appears to be the center of the duty conflict, extended to a record monthly maximum of $28.97 billion in contrast with May’s reading $24.58. It follows from Reuters calculations built around official data tracing back to 2008.
US leader has wanted the Chinese government to diminish its trade surplus with his country, and the latest outcome could further spark trade tensions after the previous week both countries imposed tit-for-tat duties on $34 billion of each other's products. The US government has warned it can ultimately put duties on more than $500 billion worth of China’s products – approximately the total amount of American imports from China in 2017.
The given dispute has affected global financial markets, spurring concerns that a full-fledged trade conflict could impact the global economy. Apparently, Chinese equities sank, and the Chinese Yuan currency tumbled, although recently there have been signs that the PBOC is moving to have the currency's dips slowed.
In June, China's exports ascended by 11.3% from 2017, confounding estimates for a 10% soar as follows from the latest Reuters survey of 39 experts, and down from May’s 12.6% leap.
After a firm start to the year, surge in China's exports has speeded down, and it’s believed to face more pressure from the first round of American duties.
Similar
Market updates on June 26
Read and find out the market movers
The GDP growth may push the USD up
The United States will release the level of final GDP growth on June 27, at 15:30 MT.
Latest news
British inflation tacks on for the first time this year
In July, Britain's inflation rate rallied for the first time in 2018, thus leaving many UK households feeling quite squeezed by prices, soaring at nearly the same tempo as their wages…
Evergreen buck heads north
On Friday, the evergreen buck rallied versus its counterparts after data disclosed that the American economy generated more jobs than anticipated In October, thus backing the Fed’s case to proceed with gradual rate lifts…
Gold sinks on soaring greenback
On Monday, gold declined because the evergreen buck managed to gain early traction, thus putting pressure on the most popular precious commodity, which has been sticking with the year’s minimums…
Deposit with your local payment systems
