Mike “Mish” Shedlock's
Sitka Pacific Capital Management,Llc
In September, the US had steep plunge in exports but a rise in imports. The net result is a record deficit.
The Census Bureau's Advance Trade Indicator supports another record trade deficit in goods.
- Exports fell from 149,111 million to 142,152 million
- Imports rose 237,275 million to 238,403 million.
The net impact is an increase in the international trade deficit of 9.2% to a record 96,252 million.
Bond yields plunged on the news.
The BEA reports the advance estimate for third-quarter GDP tomorrow.
This material is based upon information that Sitka Pacific Capital Management considers reliable and endeavors to keep current, Sitka Pacific Capital Management does not assure that this material is accurate, current or complete, and it should not be relied upon as such.
Recommended Content
Editors’ Picks
EUR/USD steadies near 1.0550, looks to post modest weekly gains
EUR/USD has lost its bullish momentum after having climbed above 1.0570 with the initial reaction to the US data in the American session and retreated toward the mid-1.0500s. On a weekly basis, the pair remains on track to close in positive territory.
GBP/USD struggles to hold above 1.2300
GBP/USD has edged lower following a jump above 1.2300 in the early American session on Friday. The market mood remains upbeat ahead of the weekend with Wall Street's main indexes posting strong daily gains on upbeat US data.
Gold stays below $1,830 as US yields edge higher
Gold continues to fluctuate below $1,830 on Friday and looks to close the second straight week in negative territory. Fueled by the risk-positive market environment, the benchmark 10-year US Treasury bond yield is up more than 1% on the day, limiting XAU/USD's upside.
Why Cardano could surprise over the weekend
ADA set to close out the week with a gain on the workday trading week and over the weekend? Central banks signaled that the rate hike cycle is ending, meaning less stress and tight conditions for trading, opening up room for some upside potential with Cardano set to pop above $0.55 and test a significant cap.
FXStreet Premium users exceed expectations
_XtraSmall.png)
Tap into our 20 years Forex trading experience and get ahead of the markets. Maximize our actionable content, be part of our community, and chat with our experts. Join FXStreet Premium today!