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In April, South Korean exports headed north at a much faster-than-expected pace, ascending for a sixth straight month backed by sturdy demand for high-tech memory chips as well as adding confirmation to perceptions of broad revival in the world economy.
In April exports to America grew, though South Korea's trade surplus with that country edged down on an annual basis for the same period. That’s what Monday's data disclosed, easing worries that Washington might impose protectionist measures, which could affect South Korea's economy.
The previous week Donald Trump told that he was considering changing a free trade deal with South Korea or even scrapping it entirely.
As preliminary data revealed April's exports increased 24.2% compared to last year’s outcome, hitting $51.01 billion. Meanwhile, imports inched up 16.6%, being worth $37.75 billion to generate a $13.25 billion trade surplus, as the Ministry of Trade, Industry and Energy informed.
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The levels of retail sales and core retail sales for the US will be released on February 14 at 15:30 MT time.
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
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