US Trade Gap Widened to 14-Mth High
By Grace Cheng on January 11, 2008 | More Posts By Grace Cheng | Author's Website
US November trade deficit rose by 9.3% to $63.12B ($59.75B shortfall expected) from October’s revised $57.77B on record oil prices, widening to the biggest gap in 14 months. October was originally reported $57.82B. Swissy fell to a 6-week low, temporarily dipping below 1.1000 (note the 3 zeroes), while EUR/USD has been trading in a tight 70-pip range. The latter has to overcome 1.4830 before it can target 1.4900, a strong resistance level. GBP has been the broad loser against other currencies like USD and JPY.
Canada December employment fell 18.7K, weaker than the consensus estimate of a 12K rise. However, it follows several months of very strong gains. The unemployment rate remained unchanged at 5.9%, in line with expectations. This weak data could weigh on the CAD as traders think the Bank of Canada may have room to cut rates on January 22.
Weak U.S. Economy May Not Mean Weak Dollar This Time
Month To Date Market Review
Stock Picks For Monday: Citigroup, JDS Uniphase And General Electric
US Unemployment Rate Troubling, But …
S&P 500: Market Is Strong, But Correction Should Continue
Taiwan Trade Balance On Tap For Monday - 20 mins ago
Macedonia’s Jan.-Sept. Trade Deficit At US$1.61 Bln - 1 day ago
Natural Gas Prices Extend Two-Month Low - 2 days ago
Stocks Finish Modestly Higher Despite Weak Jobs Report - U.S. Commentary - 2 days ago
Treasury Economist: Unemployment Numbers Disappointing But Not Unexpected - 2 days ago


