PREVIOUS TRADING DAY EVENTS 08 August 2023

The U.S. Census Bureau and the U.S. Bureau of Economic Analysis announced that the goods and services deficit was 65.5 billion in June, down 2.8 billion from 68.3 billion in May, revised.

Imports fell to the lowest level in more than 112 years. The decline in imports reported by the Commerce Department signals a slowdown in business investment and overall domestic demand amid hefty interest rate hikes from the Federal Reserve. 

Weakening consumer demand for goods and retreating inventory growth by businesses have softened imports this year, while exports continue to trend downward as the global economic backdrop softens, said Matthew Martin, a U.S. economist at Oxford Economics. We expect depressed trade flows through the remainder of the year.

The second quarters solid increase in real GDP might be revised lower in the next estimate, said Bill Adams, chief economist at Comerica Bank in Dallas. But the most timely and forwardlooking economic indicators suggest the risk of a recession in the near future is receding.

Sourcehttpswww.reuters.commarketsusustradedeficitnarrowsjuneimportsdecline20230808

Winners vs Losers

USDJPY is still leading this week with 0.94 gains.
This month, USDCAD remains on the top of the winners list, with 1.63 gains. 

News Reports Monitor Previous Trading Day 08 August 2023

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Midnight Night Session Asian

No major news announcements and no…