
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
In January, the American trade deficit inched up to a more than nine-year maximum, with the shortfall with China extending abruptly, hinting that President Donald Trump's "America First" trade stance won’t probably affect the US deficit.
On Wednesday, the Commerce Department revealed that the trade gap headed north 5% reaching $56.6 billion. It appeared to be the highest value since October 2008, following a moderately upwardly updated $53.9 billion dive in December.
Financial analysts surveyed by Reuters had predicted the trade gap extending to about $55.1 billion in January versus a previously posted $53.1 billion in December.
The politically fragile trade deficit with China tacked on 16.7% hitting 36.0 billion, which appears to be the most impressive result since September 2015. As for the deficit with Canada, it demonstrated the highest outcome for the last three years.
The trade deficit keeps widening a year into the term of Donald Trump. Previously, he had told that his country was being taken advantage of by its quick-witted trading partners. As a result, in January Trump imposed heavy duties on imported solar panels as well as large washing machines.
The previous week Trump informed that he would impose import duties of 25% on steel along with 10% on aluminum for the purpose of protecting domestic manufacturers. While these actions might be generally appreciated by Trump's working class electoral base, in particular in states heavily affected by factory closures as well as import competition, market experts warn they could suppress economic growth.
Such fierce protectionist measures have generated fears of a trade conflict and could endanger negotiations on the North American Free Trade Agreement, which links Mexico, Canada and the United States. The US President initiated a renegotiation of the controversial trade agreement with the aim of offering terms more beneficial to the United States.
Oil prices are rising while the US government is on the verge of shutting down. How will it affect the market?
US stock markets started falling, while the US dollar is rising. What to expect from
Oil prices are rising and Russia banned the export of its petrol. What's happening in the markets?
Welcome to the first week of October! As usual, at the start of the week, we are looking for valuable insights that will bring us profits in trading. Let’s observe the main events.
Inflation in Europe was released better than the forecast. The preliminary fact was published at 4.3%. What's happening in the markets?
XAUUSD fell below 1900 for the first time since March 2023. Meanwhile, the US dollar index gives a bearish signal. Read the full report to learn more!
FBS maintains a record of your data to run this website. By pressing the “Accept” button, you agree to our Privacy policy.
Your request is accepted.
A manager will call you shortly.
Next callback request for this phone number
will be available in
If you have an urgent issue please contact us via
Live chat
Internal error. Please try again later
Don’t waste your time – keep track of how NFP affects the US dollar and profit!