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UK's Trade Balance deficit widen in July

Wednesday, Sep 09 2015
The UK’s deficit on trade in goods and services was estimated to have been £3.4 billion in July 2015, a widening of £2.6 billion compared with June 2015. This widening of £2.6 billion is attributed to trade in goods where the deficit has increased from £8.5 billion in June 2015 to £11.1 billion in July 2015. Analysts were predicting £9.5 billion deficit.
 
Exports of goods decreased by £2.3 billion to £22.8 billion in July 2015, the lowest export figure since September 2010. This is attributed to decreases in semi-manufactures (specifically chemicals) of £1.0 billion and finished manufactures of £0.8 billion. Imports of goods increased by £0.3 billion to £33.9 billion over the same period.
 
Sterling is currently being traded 1.5350 area. Pair is likely to find support around 1.53 handle and resistance above 1.54 level. Later today, in the US session, JOLTS Job Openings figures are scheduled for a release.
More in this category: « UK Industrial Production unexpectedly decreased in July Euro stable in an uneventful European trade »

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