The U.S. Trade Deficit Reaches Its Highest Level in Two Years

The U.S. trade deficit widened again, reaching its highest level since 2022,
with the deficit for July amounting to $78.8 billion.

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According to the Bureau of Economic Analysis of the Department of Commerce,
this reflects an increase in domestic demand in recent months.
Imports rose by 2.1% to reach $345.4 billion, and goods imports from China increased by $4.9 billion,
further widening the U.S. trade deficit with China.

Bitcoin

Bitcoin ETFs Experience Large Withdrawals

The markets saw more than $287 million withdrawn from 11 Bitcoin ETFs listed in the U.S. due to the recent decline in cryptocurrencies.
The selling pressure continues to dominate, marking the largest withdrawals from Bitcoin ETFs in four months.

Retail Sales

European Retail Sales Decline for the Second Consecutive Month

Retail sales in the Eurozone fell year-on-year for the second consecutive month in July, driven by a decline in food and beverage sales. According to Eurostat data released on Thursday, retail sales in the Eurozone decreased by 0.1% year-on-year in July, compared to a 0.4% decline in June, following three months of continuous growth.
Food and beverage sales dropped by 0.7% during this period, while non-food products, excluding automotive fuel, declined by 0.2%. Meanwhile, fuel sales remained unchanged. On a monthly basis, retail sales rose by 0.1% in July after a 0.4% drop in June, which may signal a recovery in household spending in Europe during the third quarter of the year.

The U.S. Trade Deficit Reaches Its Highest Level

The U.S. Trade Deficit Reaches Its Highest Level

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