The US current account deficit shrank to $112.4bn in Q4 2016
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US equities opened higher, but slid into the red, as all‐time highs (NASDAQ) seem one step too far in a news‐poor session. European equities traded positive but lost a large part of the gains since the US open.
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The latest data on the UK's inflation showed consumer prices (2.3% Y/Y) rose at their fastest rate in three and a half year in February. After last week's more hawkish than expected comments from the Bank of England, today's figures will raise further questions over whether the Bank will raise rates to try to temper rising prices.
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The US current account deficit shrank to $112.4bn in Q4 2016, the Commerce Department said. That was better than a deficit of $129bn the market was expecting and compares to a shortfall of $116bn in the third quarter. The deficit represents 2.4% of GDP, compared with 2.5%in the previous quarter.
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The European Union will hold a summit of leaders to conclude its response to the UK's notification of exit on April 29, in the middle of France's presidential elections, Donald Tusk has said..
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The Mexican peso hit its strongest level since the US election on Tuesday morning, as the dollar's recent slide continued to benefit emerging market currencies. Donald Trump's pre‐election promises to tear up free trade agreements and build a wall on the US‐Mexican border battered the Mexican currency, but it has recovered as the new administration's softened its rhetoric.
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