US trade deficit falls in February as shortfall with China decreases 28%
The U.S. goods and services deficit with its global trading partners fell to $49.4 billion in February, its lowest level since June 2018 and well below estimates, the Commerce Department reported Wednesday. Economists surveyed by Dow Jones expected the U.S....
GBP/JPY Drops to Support amid Brexit Stalemate and CPI Miss
The British pound was the weakest major currency yesterday on the back of reports that there was no agreement on a customs union between Labour and Conservatives. No surprises there then. It fell further this morning in reaction to the...
Sub-investment grade debt: Blended risk
Of all the changes in the sub-investment grade capital markets over the last decade, the blurring of the boundary between loans and bonds might have the most lasting impact. It has spurred consistent growth in multi-asset strategy funds on the...
AUDUSD Pierces 200-Day MA After A Year, Bias Cautiously Bullish
AUDUSD crawled slightly above the 200-day simple moving average (SMA) early on Wednesday for the first time in more than a year to meet resistance at a two-month high of 0.7205. Positive momentum could hold in the short term as...
Aussie Lifted by Strong China Data, Kiwi Tumbles on CPI and RBNZ Bets
Australian and New Zealand Dollars have very different fortunes today. Aussie was boosted higher by stronger than expected Chinese data. On the other hand, Kiwi dived as weaker than expected CPI raises the chance of RBNZ rate cut at next...
Swiss Franc Reverses Its Losses In The Morning Session
For the 24 hours to 23:00 GMT, the USD rose 0.38% against the CHF and closed at 1.0077. In the Asian session, at GMT0300, the pair is trading at 1.0071, with the USD trading 0.06% lower against the CHF from...
Canada’s Manufacturing Shipments Declined More-Than-Expected In February
For the 24 hours to 23:00 GMT, the USD declined 0.08% against the CAD and closed at 1.3362. On the macro front, Canada’s manufacturing shipments declined 0.2% on a monthly basis in February, compared to a revised rise of 0.8%...
Goldman Sachs CEO: The US economy ‘is chugging along pretty well’
Goldman Sachs Chief Executive David Solomon said Wednesday that the chances of the U.S. economy soon entering a recession are lower now than they were earlier this year. “I don’t see any data in any way, shape or form that...
Lyft share price crash sucks the air out of Uber’s IPO
“What is Amazon?” one banker asks, I hope rhetorically. “Clearly it is not just an online shop.” To my relief, he answers himself: “It is a price discovery tool.” His colleague objects, however. “Surely, it is an automated supply chain.”...
Economy could be weaker than expected, and the reason is manufacturing
Industrial production declined in the first three months of the year for the first time since the third quarter of 2017, and that could signal economic growth is weaker than some economists are forecasting. Total industrial production declined by 0.1%...
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