'China trade' …. sheesh if there were ever two words to save for a cut and paste it'd have to be those
The trade data will be pored over. Dunno why. They won't matter. Trump ain't gonna back down regardless (how many times have I posted not to underestimate Trump?)
The data will hit Friday 13 July
…..Uh-oh …. Friday the thirteenth!
No firm time for the release, as always, I expect some time after 0200GMT
Previews:
Barclays:
- We expect export growth to moderate to single digits in June, given the contraction in PMI new export orders index amid escalating trade tensions. We expect import growth to remain solid at c.20 (% y/y) despite some moderation.
TD:
- Our models utilising trade data from key trading partners and commodity prices, point to another healthy increase in imports in June, likely up 23.3% y/y following a 26.0% y/ y rise in April. Export growth is likely to decelerate, with a less than consensus 8.7% y/ y increase expected. Consequently the trade balance is likely to come in around USD 22.5bn in May.
