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Tag: Forex News Round Up

US Trade Deficit Reaches 9 Year High

The U.S. trade deficit widened more than expected in December, hitting its highest level since 2008 as robust domestic demand pushed imports to a record high. The Commerce Department said on Tuesday the trade gap increased 5.3 percent to $53.1 billion. That was the highest level since October 2008 and followed a slightly upwardly revised […]

US Secretary of Treasury Says He is Closely Following Financial Markets

Treasury Secretary Steven Mnuchin said Tuesday the White House is closely following the turmoil in financial markets, but administration officials are not that concerned. “We’re monitoring the situation,” Mnuchin told CNBC while on his way to his testimony before the House Financial Services Committee on financial stability. “The markets look like they’re functioning normally in […]

US Jobs Openings Slowed Down in December

Job openings in December ticked down slightly from the prior month, while the measure of unemployed persons per job opening held their ground at historic lows. The Bureau of Labor Statistics fell to 5.81 million job openings in December, undershooting forecasts of 5.9 million from a survey of Reuters economists. The Bureau’s Job Openings and […]

US President Trump to Give Infrastructure Details on Monday

U.S. President Donald Trump plans to unveil details of his long-awaited plan to generate at least $1.5 trillion in infrastructure improvements over 10 years next Monday, a White House official said on Tuesday. Trump will issue “infrastructure principles, which will outline a plan” to boost infrastructure and call for cutting regulatory burdens to speed approval […]

U.S. Trade Deficit Is Wider Than Any Month or Year Since 2008

The U.S. trade deficit widened to the biggest monthly and annual levels since the last recession, underscoring the inherent friction in President Donald Trump’s goal of narrowing the gap while enjoying faster economic growth. The deficit increased 5.3 percent in December to a larger-than- expected $53.1 billion, the widest since October 2008, as imports outpaced […]

Algo Trading Blamed for Monday’s Market Crash

The first thing to know about the stock market’s eye-watering slide Monday is that it wasn’t caused by anything fundamental. There was no particular piece of news that drove the major averages to capsize, in a move that sent the Dow industrials off more than 1,500 points — a new intraday record — briefly in […]

Jerome Powell Starts Fed Chair Position Facing High Volatility

On day one, markets are already putting Fed Chair Jerome Powell to the test. Market volatility, largely absent until last week, picked up in the final days of Janet Yellen’s tenure, with interest rates suddenly breaking out of a long-running range. Long dormant, inflation expectations suddenly started to rise and triggered a sell-off in the […]

Morgan Stanley Says Inflation Anxiety Putting Pressure on Stocks

Don’t expect stocks to rebound if inflation anxiety continues, according to Morgan Stanley. With price fears egging on Treasury rates, equities could be in for a disappointing few months as investors move away from a “buy-the-dip” mentality. “When inflation is very low, rising inflation has a positive impact on equity valuations,” wrote Mike Wilson, chief […]

US Service PMI Rises to 12 Year High

U.S. services sector activity raced to a near 12-1/2-year high in January, buoyed by robust growth in new orders, the latest sign of strong momentum in the economy at the start of the year. Economic growth is showing strength even before the stimulus from a $1.5 trillion tax cut package, which came into effect last […]

UK Minister Says All Brexit Forecasts Have Been Wrong

Brexit minister David Davis rekindled a debate about the credibility of the government’s own forecasts by saying on Thursday that every economic prediction on the British economy since the EU referendum has been wrong. Davis made the comments in parliament after being asked about leaked analysis, drawn up by government officials, which suggests Britain would […]