Online Forex broker
In January, the American trade deficit went down more than anticipated because China ramped up buying of soybeans, resulting in a rebound in exports following three straight monthly dives.
On Monday, the Commerce Department informed that the trade deficit slumped by 14.6% that appears to be the greatest tumble since March last year, hitting $51.1 billion because decreasing domestic demand as well as lower crude prices tamed the import bill.
December’s data was updated a bit downwards to show the trade gap extending to $59.9 billion versus the previously posted $59.8 billion. Experts had hoped that the trade gap would shrink to $57.0 billion in January.
As for the trade deficit, it’s still elevated notwithstanding Trump's "America First" stance that has left the US mired in a bruising trade conflict with China and caused retaliatory levies from other trading partners.
In 2018, the US government slapped levies on $250 billion worth of Chinese goods, with China repelling it with tariffs on $110 billion worth of US goods, in particular, soybeans as well as other commodities.
US leader has postponed levies on $200 billion worth of China’s goods as talks to tackle the eight-month trade conflict resume, with China promising to resume bulk buying of soybeans following a series of cancellations at the height of the trade clash.
American Trade Representative Robert Lighthizer along with Treasury Secretary Steven Mnuchin came to China this week for another round of trade negotiations with their Chinese rival Vice Premier Liu He.
By the way, the politically sensitive trade deficit with China headed south by about 6.4% in January hitting $34.5 billion.
Additionally, exports of cars and parts rallied by $1.2 billion, although shipments of capital goods went down by about $0.8 billion.
Last week was very interesting for the markets, as we saw the releases of the US Inflation and Disney’s earnings report. So let's see what we should await this week!
The United States will publish the Federal Open Market Committee Meeting Minutes on November 24, at 21:00 GMT+2.
Hong Kong’s HK 50 index rose and the Chinese yuan edged up as traders assess the outcome of the first virtual meeting between US President Joe Biden and Chinese leader Xi Jinping.
As Europe moves into recession, next week may provide us with some amazing trading opportunities. Here they are!
Main news that will drive the market in the upcoming week include CB Consumer Confidence Index, Canadian GDP, and US Core PCE Price Index
The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.
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!
Beginner Forex book will guide you through the world of trading.
We've emailed a special link to your e-mail.
Click the link to confirm your address and get Beginner Forex book for free.
|
