Source: Bureau of Economic Affairs US trade in goods and services and income flows with the rest of the world hit a deficit of $214.8 billion in the third quarter, up 8.3% or $16.5 billion from the second quarter. SPY is up +0.95%, DXY is down -0.01%. An increase in secondary income and goods deficit played a greater role in the account’s negative balance, offsetting … [Read more...] about US Current-Account Deficit Increases by 8.3% in the Third Quarter
Forex News
UK Borrowing Slips to £17.4 Billion in November
Source: Office for National Statistics Public borrowing in the United Kingdom declined in November, following the record-high seen the same month a year ago. EWU is up 0.72% premarket. Public sector net borrowing was estimated at £17.4 billion in November, down by £4.9 billion a year ago. The latest figure is the second-highest November reading since records started … [Read more...] about UK Borrowing Slips to £17.4 Billion in November
Lira in Massive Rebound, Up Nearly 15% on Extraordinary Support Measures
Source: Bloomberg The Turkish lira posted extended gains to nearly 15% against the US dollar after President Recep Tayyip Erdogan came up with extraordinary interventions to boost the currency. TRY USD up +3.76% The lira gained almost 15.1% to stand at 11.3165 per dollar as of 9.15 a.m. local time on Tuesday after growing nearly 16.4%.The currency rebounded from a record … [Read more...] about Lira in Massive Rebound, Up Nearly 15% on Extraordinary Support Measures
US Home Sales Projected to Grow 7.1% in 2021, Drop for Next Two Years, Says Fannie Mae
Source: Reuters Home sales across the US are projected to fall over the next two years, as limited supply and higher mortgage rates and prices slow down the residential real estate market. DXY down -0.31%, EUR USD UP +0.54% The state-backed enterprise’s Economic and Strategic Research Group increased its 2021 home sales growth forecast from an initial 5.3%, attributable … [Read more...] about US Home Sales Projected to Grow 7.1% in 2021, Drop for Next Two Years, Says Fannie Mae
Global Merchandise Dips, Raises Risk of Missing 2021 Growth Forecast
Source: Reuters Global merchandise trend dropped by 0.8% in the third quarter, the World Trade Organization announced Monday. The latest development has raised the risk of missing the forecasted 2021 growth rate, along with the emergence of the Omicron COVID-19 variant.The WTO attributed the decline in trade volume on supply chain constraints, along with production input … [Read more...] about Global Merchandise Dips, Raises Risk of Missing 2021 Growth Forecast
