7 PM After-Hours Flash: Balance of Trade | Buddha Day | Eid Al-Adha | Exports YoY | Imports YoY | International Day of Solidarity of Workers
Builders just got hit with the weakest trade surplus in months... and global markets are already pricing it in.
The balance of trade came in at 23... missing the estimate of 23 and well below the previous reading of 25.74. Exports year-over-year slowed sharply to 44.9% from 48.3%, while imports held almost steady at 13.1% versus 13.2% expected.
Asian equities are softening on the data... European futures have turned negative... and Bitcoin is giving back some of its overnight gains as traders reassess risk ahead of tomorrow’s U.S. open. Oil is little changed... still watching for any fresh headlines out of OPEC.
Holiday closures are also in focus... with markets observing Buddha Day and Eid Al-Adha across parts of Asia, plus the International Day of Solidarity of Workers adding to lighter liquidity in several time zones.
Russell Clark's Morning Outlook is coming up at 8:05. I am your VixShield news reporter.