empty
 
 
Oil is under Pressure of Chinese Trade Balance
loader

China, one of the few countries which still demonstrates a trade surplus, contracted volume of foreign trade in July.


Last month Chinese Offices of Statistics registered the slowest growth of exports. Meanwhile, the analysts anticipated 8% increase, whereas the real reading made up just 1% on annual basis.


Nevertheless, import gained 4.7% which resulted in trade balance contraction up to 25.1 bn US dollars.


Such pessimistic data negatively affect outlook for oil demand. At the same time, market participants are expecting the government to undertake active measures in order to stimulate the economy. 


In the morning WTI oil dipped to the level of 92 dollars 40 cents per barrel.


News about weak demand for fuel in the USA adds additional pressure on oil quotes.


Calendar and reviews
Editor's choice
Bangkok is the capital of Thailand and the largest city in the country with thousands of small and large enterprises. Its population numbers 15 mln. The rate of economic growth and the standard of well being transformed Bangkok to a famous financial center and a spot of attraction for the world business community. Today Bangkok can compete with such cities as Singapore and Hong Kong as it encompasses manufacturing, tourist, business, and other economic sectors. Bangkok is a perfect place for organization of investment conferences and business meetings. That is why InstaForex Company has several offices in the capital of Thailand, which enable cooperation with tens of thousands traders from this unique city.
Sergey Kovalenko, trader at InstaForex, speaks about $1,000,000 he earned and his future plans (ShowFx World Exhibition in Kiev)
  • Grand Choice
    Contest by
    InstaForex
    InstaForex always strives to help you
    fulfill your biggest dreams.
    JOIN CONTEST
  • Chancy Deposit
    Deposit your account with $3,000 and get $1000 more!
    In April we raffle $1000 within the Chancy Deposit campaign!
    Get a chance to win by depositing $3,000 to a trading account. Having fulfilled this condition, you become a campaign participant.
    JOIN CONTEST
  • Trade Wise, Win Device
    Top up your account with at least $500, sign up for the contest, and get a chance to win mobile devices.
    JOIN CONTEST
  • 30% Bonus
    Receive a 30% bonus every time you top up your account
    GET BONUS
Can't speak right now?
Ask your question in the chat.
Widget callback