Australia's June Trade Deficit Probably Widened on Rising Imports, Storm

(Bloomberg) -- Australia's trade deficit probably
widened in June as a storm disrupted coal exports and imports
increased to a record.

The trade gap widened to A$1.2 billion ($1 billion) from
A$807 million in May, according to the median estimate of 24
economists surveyed by Bloomberg News. The Bureau of Statistics
will release the report tomorrow at 11:30 a.m. in Sydney.


Read more at Bloomberg Currencies News

U.K. Pound Rises to 26-Year High on Interest Rates, Retail Sales Report

(Bloomberg) -- The pound rose to a 26-year high
against the dollar after a report showed sales at U.K. retailers
increased at the fastest pace since March last month.

The U.K. currency gained for a second day on speculation
signs of continued growth in consumer spending will prompt the
Bank of England to keep raising interest rates. The pound was
also buoyed by data showing the country's trade deficit
unexpectedly narrowed in May.


Read more at Bloomberg Currencies News

Rand gains from trade, bonds consolidate

(Reuters) - South Africa's rand gained on the dollar on Friday after a smaller than expected trade deficit, while bonds firmed in step with the currency.

The rand was trading at 7.0425 against the greenback, 0.75 percent above its New York close after touching a five-week high of 7.0280.


Read more at Reuters Africa

S.Africa May trade deficit narrows to 2.7 bln rand

(Reuters) - South Africa recorded a trade deficit of 2.67 billion rand in May, compared to April's 5.67 billion rand shortfall, the South African Revenue Service said on Friday.

Analysts polled by Reuters last week had forecast a deficit of 4.8 billion rand, but the data is notoriously volatile and difficult to predict.


Read more at Reuters Africa

US sees April net capital inflow of $111.8 bln

(Reuters) - The United States needs to attract nearly $2 billion a day
to help cover its trade deficit, which was $58.5 billion in
April, and maintain the value of the dollar.




Read more at Reuters.com Economic News

EU presses China on trade gap, rights

(Reuters) - EU External Relations Commissioner Benita Ferrero-Waldner said after meeting Chinese Foreign Minister Yang Jiechi she had also stressed the need for Beijing to do more on climate change.




"I mentioned the huge trade deficit that is there," she told Reuters. "If you only think, in the year 2006 -- 130 billion euros . That's a huge deficit and therefore we really want to get market access."


Read more at Reuters.com Business News