Online Forex broker
In December, South Korean exports surged less than in November. It could be explained by softening demand from key economies led by China. That’s what a Reuters poll uncovered on Wednesday.
According to the median estimate from 10 market experts, from 2017 there was a 3.3% ascend in exports, which is below a 4.1% leap recorded in November as well as below a 6.2% jump for the first 11 months of 2018.
In December, the country’s imports added by 4.2% from 2017, which is steeply down from the previous month’s 11.5% rally.
If December exports match the survey poll, there will be a 5.9% leap for the year, which appears to be below last year’s jump of 15.8%.
Moreover, the South Korean finance ministry suggests export surge will speed down to 3.1% in 2019.
Market experts pointed out that recent dives in prices of the country’s major export items, including memory chips as well as oil products, could potentially provoke an annual tumble in export value early in 2019.
Diving semiconductor prices along with global crude prices could generate contraction in the country’s exports in the first quarter, as some experts suggest.
As a matter of fact, South Korea turns out to be the world's number one exporter of microprocessors, and also a key source of ships, vehicles as well as petroleum products. What’s more, South Korea happens to be the first key exporter to post monthly trade data that gives the first outcome of global trade conditions.
For the first 20 days of this month, the country’s overseas sales of memory chips headed south by about 9.8% from 2017, as follows from customs agency data uncovered earlier.
The previous month, the country’s exports to its key trade partner, China went down for the first time since October 2016, while chip exports tacked on the least since November 2016.
The risk sentiment remains under pressure after the comments by China about the countermeasures against the US tariffs. Thus, the AUD/USD and the USD/JPY pairs will be under our attention.
During the European trading session, both the US and the UK yield curves inverted.
Levels for Wednesday's trading
On Tuesday, crypto assets dived, with Bitcoin decreasing below the psychologically crucial $5,000 mark 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…
Welcome to Tuesday, people! Here’s your markets update ahead of the European trading session.
Your request is accepted.
A manager will call you shortly.
Internal error. Please try again later
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
