The British monthly GDP is announced on Friday at 09:00 MT time.
German trade surplus extends in August
In August, German exports managed to outpace imports, extending the trade surplus and contributing to evidence that the EU’s number one economy acted strongly in the third quarter, as data disclosed on Tuesday.
As a matter of fact, seasonally adjusted exports inched up by 3.1% on the month. Meanwhile, imports ascended 1.2%, as data from the Federal Statistics Office unveiled. It turned to be the strongest exports ascend for 12 months.
Both import and export surge was stronger than anticipated. A Reuters survey had pointed to exports soaring 1% and imports leaping by 0.5%.
The seasonally adjusted trade surplus extended to 21.6 billion euros from July’s downwardly updated reading of 19.3 billion euros. August’s outcome appeared to be higher than the Reuters consensus prediction of 20.0 billion euros.
Germany's wider current account surplus, measuring the flow of services, investments and good, dived to 17.8 billion euros after July’s upwardly updated outcome of 19.6 billion euros, as unadjusted data revealed.
The main market tendency today is that the US dollar is rising against its major peers and riskier assets such as stocks and oil are plummeting.
The US unemployment claims are out on Thursday at 15:30 MT time.
The European Central Bank will publish the monetary policy statement with the interest rate decision on January 21, at 14:45 MT time.
Joe Biden is going to unveil a Covid-19 relief package of about $2 trillion. After this announcement, the 10-year Treasury yield rose, adding support for the USD.
The US dollar’s weakness offered a boost to emerging-market currencies and oil.