US July trade balance -$70.1B vs -$71.0B expected US July trade balance data – Prior was -$75.7B – Goods trade balance -$86.8B vs -$86.3B prior – US-China deficit $28.65B vs $27.84B prior – Exports +1.3% – Imports -0.2% This is a sliver of good news for July but that’s a small beat and it came on falling imports, which isn’t a great sign for demand (and though, that’s a small decline).…