The ECB brings an opportunity to the EUR traders
The European central bank will conduct its press conference on January 24 at 15:30 MT time.
American trade deficit ascends to more than nine-year maximum
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.
Similar
American home sales reach three-year minimum
In December, American home sales slipped to their lowest value for three years…
UK pay surge reaches fresh 10-year maximum as employment jumps
UK employees’ pay surge reached another 10-year maximum and employment rallied by much more than anticipated for the three months to the end of November due to the fact that the UK labor market was still firm notwithstanding other signs of an economic…
Latest news
Forex today: easing geopolitical tensions
Safe havens such as gold and Japanese yen declined as investors sentiment was boosted by eased geopolitical tensions…
Common currency ascends ahead of euro zone data
On Tuesday, the euro tacked on because market participants waited for reports on inflation and growth in the euro zone, while the Japanese yen went down after Japan’s major bank told it would be more flexible in its huge stimulus program…
Greenback edges down
On Tuesday, the evergreen buck dived because the common currency bounced off and the UK pound managed to ascend to the day’s maximums reacting to reports that British Prime Minister Theresa May is going to take control of Brexit talks…
Deposit with your local payment systems
