China trade balance

China Delivers Two Disappointments to Investors

November 7, 2022

Officials in China announced that for now there is to be no change in the government’s zero Covid objective, quelling rumors last week that a modification would soon be forthcoming to promote faster growth. Also China’s October trade surplus of $85.2 billion was $10 billion smaller than street estimates. A 0.7% year-on-year dip in imports […] More

Equities Tumbling Anew as Inflation and Interest Rates Climb

January 14, 2022

The dollar overnight rose 0.1% against the euro and on a weighted basis, held unchanged against the Swiss franc and sterling and fell 0.3% versus the yen. Share prices dropped 1.3% in Japan, 1.4% in South Korea, 1.1% in Australia, and 1.0% in South Korea. The German Dax and Paris Cac show losses so far […] More

Dollar and Equity Markets Extend Recoveries

December 7, 2021

Identified Covid cases in America are zeroing in on the 50 million level since the start of the pandemic, including almost 119k cases yesterday. But there has been a sense of relief in the absence so far of evidence that the Omicron Variant will be associated with higher rates of hospitalization or deaths. Investors are […] More

Global Stock Markets and Dollar Pause

November 9, 2021

The strength of equities in October and the first week of November was fed by the tapering patience of major central banks, evidence of continuing economic recovery in spite of Covid and inflation, and robust corporate earnings. But new concerns are adding to the pile. Biden’s still-unannounced choice to lead the Fed Board of Governors […] More

Generally Quiet Financial Markets This Morning

June 7, 2021

Compared to Friday closing levels, the U.S. dollar is unchanged against the yuan and euro, 0.1% softer versus the yen, loonie, Swissie and sterling, and down 0.2% relative to the Australian and New Zealand dollars. Stock markets in Asia closed down 0.5% in Hong Kong and 0.4% in Taiwan but up by 0.8% in Singapore, […] More

Investors Excited by Vaccine Trial News and U.S. Election Results

November 9, 2020

Stock markets are rallying on two pieces of news. Initial results of Pfizer’s large-scale trials of a Covid-19 vaccine have reportedly demonstrated 90% effectiveness among people without a prior condition. Donald Trump has lost his bid for a second term as president, but Republicans appear to have retained control of the senate. This combination of […] More

Covid-Related Setbacks in European Confidence, a Smaller Chinese Trade Surplus, and Another Day for Barrett Confirmation Hearings

October 13, 2020

Some risk aversion has returned to Europe. In many countries there, lockdown restrictions against Covid-19 have had to be tightened. And data reports out today reflect rising concern. For example, the ZEW expectations index of financial investor confidence toward Germany suffered a big setback this month, dropping to a five-month low of 56.1 from September’s […] More

Economic Reopening Spreads Even as Pandemic Chugs On

June 8, 2020

Many more business establishments will be reopening on a modified basis this week in a calculated gamble that the Covid-19 pandemic doesn’t intensify unduly as a result. An additional risk for the United States is the unknown impact of the many days of street protests since the death of George Floyd. Globally reported confirmed cases […] More

Disconnection Thursday Between Recessionary Data and Buoyant Stocks

May 7, 2020

Equities were mixed in Asia but have risen more impressively in Europe this morning. There were drops of 0.8% in India, 0.7% in Hong Kong and 0.2% in China but advances of 0.6% in Taiwan, 0.3% in Japan and 0.5% in New Zealand. The British Ftse, German Dax, and Paris Cac each have risen at […] More

Easter Break Over but Covid-19 Pandemic Continues to Dominate Financial Market News

April 14, 2020

Having made the three biggest mistakes in handling the pandemic, the United States has now taken the global lead in both number of cases (30.3% of the worldwide total) and deaths (23,644 or 19.6% of the total). The mistakes were 1) being late to socially distance people, 2) deficient testing to identify asymptomatic carriers of […] More

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