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South Korea August exports add for 10th month
In August, South Korea's exports were supposed to add for a 10th straight month, according to Wednesday’s Reuters survey. It’s because global demand for tech products were still robust in spite of the fact renegotiation of a major trade pact with America might contribute to future risk.
The median prediction of the 12 experts surveyed was for exports to ascend 14.3% from 2016, slowing from July’s outcome of 19.5%. Import surge was seen decreasing to 11.4% having leapt 14.5% percent in July.
The previous week the United States and South Korea held a one-day video conference to discuss how to move forward in negotiations on the trade pact, though failed to reach come to a compromise.
July exports to the United States and China rallied 7% and 6.6% respectively against 2016. By the way, China appears to be South Korea's leading trade partner.
As for shipments to the EU, they demonstrated a 10.2% surge.
The same survey states that August’s year-on-year inflation was believed to hit 2.2%, intact from July.
The US will release monthly consumer price index figures (CPI) for October at 15:30 MT time on November 14.
How to trade the key currency pair and what affected the currency market? Read today's news digest!
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