Source: Bureau of Economic Analysis The United States’ trade deficit narrowed in July, as exports climbed while imports declined during the period. The goods and services deficit fell by 4.3% to $70.1 billion versus $73.2 billion the previous month.Exports climbed 1.3% to $212.8 billion. Goods exports jumped $2.7 billion to $148.6 billion, while services exports climbed … [Read more...] about US Trade Deficit Down to $70.1 Billion in July Amid Decline in Imports
Forex News
American Unemployment Claims Carve New Pandemic-Low
Source: US Labor Department US jobless claims fell to the lowest level since the COVID-19 pandemic hit, nearing the 330,000 level for the first time in over a year. DXY is down 0.01%, while Gold is down 0.07%. Seasonally adjusted initial claims for the week ending August 28 declined by 14,000 to 340,000. This is the lowest since March 14, 2020’s 256,000.The previous … [Read more...] about American Unemployment Claims Carve New Pandemic-Low
Euro Banks Take Advantage of ECBs TLTROs, Amid Prolonged Negative Rates Warnings
Source: WSJ The European Central Bank is giving its banks incentives in the firm of liquidity pools to boost lending to cash-strapped businesses. DAX is up +0.11%, EURUSD is up +0.09%. Fig: Borrowings by ECB Banks Through the 2014 liquidity boosts known as targeted longer-term refinancing operations or TLTROs, ECB aims to boost lending to tackle a credit crunch … [Read more...] about Euro Banks Take Advantage of ECBs TLTROs, Amid Prolonged Negative Rates Warnings
Four Countries Make Pact to Test Cross-Border CBDC Transactions
Source: Markets Insider Central banks of four countries — Australia, Malaysia, Singapore, and South Africa — have agreed on a joint trial of central bank digital currencies capable of cross-border transactions. The partnership includes the Bank of International Settlements Innovation Hub and the Reserve Bank of Australia, Bank Negara Malaysia, Monetary Authority of … [Read more...] about Four Countries Make Pact to Test Cross-Border CBDC Transactions
India Recorded a 20.1% YoY Growth Last Quarter on a Recovery From Covid-19
Source: WSJ India’s GDP grew 20.1% in the quarter ended June from the previous year to mark a rebound from the Covid-19 driven recession of about 24% last year. BSE Sensex is up + 0.9%, USDINR is up +0.07% India’s economic activities picked up from June when Covid-19 cases dropped to below 50,000 per day.Consumer confidence also went up by 1.4% in June after … [Read more...] about India Recorded a 20.1% YoY Growth Last Quarter on a Recovery From Covid-19
