US Dollar Stays Unsteady Against Major Currencies

Market Reviews

The US dollar is trading with a decrease against most major currencies. The euro, the British pound and the Japanese yen remain relatively stable. The Canadian dollar continues to strengthen against the backdrop of the recovery in oil prices.

Earlier it became known that the UK was ready to pay GBP 36b to withdraw from the EU. Various British officials denied this. Prior to this, it was reported that Theresa May was ready to pay this money as payment for negotiations on a future trade agreement.

The China's trade surplus was $46.74 billion in July, slightly higher than the forecast of economists, who expected the growth of the indicator to $46.08 billion. Exports of goods from China increased by 7.2% yoy in July. Export growth is much lower than market expectations of 10.9%.

At the same time, China's imports rose by 11.0% year-on-year in July, well below the previous value of +17.2% and the forecast of economists +16.6%. Some economists noted that trade data indicate a tendency to reduce both external and domestic demand.