South Korea August exports add for 10th month

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.


Will US inflation push USD further up?
Will US inflation push USD further up?

The American inflation rate is announced on Tuesday at 15:30 MT. It’s an important event for traders as it will impact hugely currency pairs with the USD.

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