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Global markets: US trade gap widens

By Commodity News Service Canada

WINNIPEG, June 27 – The following is a glance at the news moving markets globally.

US IMPORTS UP, EXPORTS DROP
The US trade gap in goods widened in May, according to reports out of the country on Monday.

The advanced trade gap increased to a seasonally adjusted US$60.59 billion from US$57.53 billion, as imports gained and exports dropped, reports say.

US CAR EXPORTS TO KOREA GAIN
The number US cars Korea has been importing has more than tripled over the past four years, market watchers said on Monday.

Analysts say the US-Korea Free Trade Agreement (FTA) has boosted the number of cars bought by Korea.

INDIA SAYS IT WILL START MONETARY POLICY COMMITTEE
The Indian government has started setting up a new monetary policy committee, according to reports on Monday.

The policy council will include six-members and will set interest rates by majority.

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