UK Services PMI Returns to Growth in July as New Orders and Confidence Rebound 
US Stock Futures Rise as Markets Await July Payrolls Data 
Brazil Cuts Selic Rate to 14% as Inflation Eases but Risks Persist 
German Bund Yields Hit Three-Week Low as Energy Prices Ease and ECB Outlook Softens 
European Stocks Near Record Highs as Earnings Strength Offsets Geopolitical Concerns 
Asian Currencies Steady as Markets Await U.S. Jobs Data 
Oil Prices Slip as Hormuz Shipping Progress and Rising U.S. Crude Stocks Weigh on Market 
Oil Prices Surge as Iran Hormuz Restrictions Renew Supply Fears 
BOJ Minutes Signal More Rate Hikes as Inflation Risks Grow 
European Natural Gas Prices Hold Near Three-Week Lows Amid Middle East Talks and Supply Concerns 
RBI Holds Repo Rate at 5.25% as Inflation Risks and Global Uncertainty Persist 
US Stock Futures Hold Steady as Iran Hormuz Deal and Earnings Shape Market Sentiment 
Singapore Says One-Third of U.S. Exports Hit by New 12.5% Tariff 
Trump Says U.S.-Iran Talks Progressing as Hopes Rise for Strait of Hormuz Reopening 
Dollar Holds Near Six-Week Low as Yen Loses Momentum Ahead of U.S. Jobs Data 
Wall Street Ends Mixed as Dow Hits Record Despite Tech Weakness 
China’s trade surplus exceeded market expectations in July as exports remained resilient, although faster import growth and softer export momentum pushed the surplus lower compared with the previous month.
Official government data released Friday showed China recorded a trade surplus of $112.50 billion in July. The figure surpassed economists’ expectations of $107.10 billion but declined from the $125.62 billion surplus reported in June.
Chinese exports increased 23.9% year-on-year in July, slightly above forecasts for 23.0% growth. However, the pace slowed from the 27% expansion recorded a month earlier, suggesting overseas demand for Chinese goods may be starting to moderate following strong growth during much of the year.
China’s export sector has benefited from overseas companies accelerating purchases amid uncertainty surrounding the U.S.-Iran conflict. That boost could fade in the coming months as foreign inventories remain elevated and businesses have less need to bring orders forward.
Capital Economics analysts noted that China's trade boom lost some momentum in July, but export and import values remained high. Strong global demand for electronics and green technology products continued to provide support to Chinese trade.
Recent economic indicators have also pointed to softer domestic conditions. China’s manufacturing purchasing managers index for July showed business activity losing momentum compared with previous months, adding to concerns over the strength of the broader economic recovery.
Imports, meanwhile, climbed 27.5% from a year earlier in July. That was below expectations for a 29.7% increase and represented a notable slowdown from the 36.0% growth registered in June.
China’s imports have risen sharply this year, supported by domestic demand for components used in artificial intelligence infrastructure. Higher global oil prices have also increased the value of the country’s import bill.
Exports have emerged as a key pillar of China’s economy in recent quarters, helping cushion weakness in consumer spending and private investment. While July’s stronger-than-expected China trade balance highlights continued resilience in external demand, slowing export and import growth could signal that trade momentum is beginning to cool.
