
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
In September, American business spending on equipment speeded down and the goods trade deficit extended further because soaring imports managed to outpace a rebound in exports, hinting that economic surge decelerated in the third quarter.
However, the surge tempo in the last quarter was probably firm, with other Thursday’s data disclosing leaps in both wholesale as well as retail inventories in September. Moreover, a tightening labor market, steadily backing wage surge, also underpinned the American economy.
According to the the Commerce Department, orders for non-defense capital products without aircraft, headed south by 0.1% in September against the backdrop of decreasing demand for fabricated metals as well as electrical equipment, components and appliances.
It followed a 0.2% tumble in the core capital products orders in August. Market experts surveyed by Reuters had predicted core capital products orders heading north by 0.5% in September. Aside from that, shipments of core capital products didn’t change the previous month.
By the way, core capital goods shipments are generally utilized for calculating equipment spending in the cabinet’s GDP measurement.
In addition to this, business spending on equipment is decelerating having surged at a brisk tempo for more than a year. It was backed by the current presidential administration's $1.5 trillion tax trim package, including a steep reduction in the corporate tax rate.
However, the influence of lower taxes is being compensated by the administration's "America First" stance that have provoked a bitter trade feud between America and China and also tit-for-tat duties with other major trade partners.
Companies including Ford and Caterpillar Inc have complained about ascending manufacturing costs because of the levies on imported steel as well as other raw materials.
The evergreen buck soared versus a basket of currencies right after European Central Bank Governor told that the monetary union was still fragile.
When will the US go bankrupt? Will it start the market crash unseen before? We have plenty to share with you, so let’s get started.
The US Consumer sentiment will shake the market today. We are back with more news for you to enjoy!
Today, the US Inflation release at 15:30 GMT+3 will determine the further destiny of the major pairs and gold. The event is highly impactful, as the Federal Reserve will make decisions regarding further rate hikes based on it. Also, we brought you some news about XAUUSD and GBPUSD. Stay tuned!
Saudi Arabia agreed to cut oil production. What will happen with the oil price now?
The situation on the labor market still looks optimistic. Today we expect the Unemployment rate data. 3.5% is expected.
The first day of June should’ve brought us the US default. Unsurprisingly, the US House passes the debt ceiling bill at the latest possible moment.
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