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Source:  Census Bureau The US recorded a goods and services trade deficit of $71.2 billion in May, up $2.2 billion or 3.1% from April’s $69.1 billion. DXY is down -0.04%, SPY is up +0.26%. Trade deficits were fueled by 1.3% increases in imports, which hit $277.3 billion in May. Exports rose by 0.6% to $206.0 billion.Goods deficit rose by $2.3 billion to $89.2 … [Read more...] about US Trade Deficit Widens by $2.2 Billion in May on Ballooning Imports

Source: Yicai Global Yuan reserves of central banks climbed to the highest in over four years during the first quarter, driven by China’s attractiveness to foreign investors. International Monetary Fund data released on June 30 showed that yuan reserves rose 6.7% to $287.5 billion from the fourth quarter of 2020 to mark the ninth straight quarter of growth.The proportion … [Read more...] about Global Yuan Reserves Climb to Highest Level in Over Four Years

Source: Economic Times Chinese equities were dragged by growth concerns to slip the most in nearly four months, a day after the Communist Party celebrated its 100th anniversary. The CSI300 index declined by 2.8% to 5,081.12, while the Shanghai Composite Index shed 2% to 3,518.76. The two indexes recorded the biggest daily drop since March.The biggest declines were seen in … [Read more...] about Chinese Stocks Post Biggest Slump in Four Months on Growth Concerns

Source: CNBC Wall Street can’t keep calm after oil prices surged towards $80 a barrel for the first time in two and half years. Analysts now disagree on whether a return to $100 a barrel oil is upcoming. CL1! is up +0.24% Vaccine rollouts, easing of restrictions, and production cuts have seen oil jump at least 45% in the first half of this year, and analysts expect … [Read more...] about What Next For Crude After Rally: Analysts Dissent on $100 Oil Possibility