Oliver Sutton Posted July 13, 2010 Share Posted July 13, 2010 Market Watch The larger-than-expected trade gap may cause economists to reduce their forecasts for second-quarter gross domestic product. A worsening trade gap is a drag on growth. Quote Link to comment Share on other sites More sharing options...
South Lorne Posted July 13, 2010 Share Posted July 13, 2010 Market Watch ...increased oil imports due to cut back production in the GOM...?.... Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted July 13, 2010 Author Share Posted July 13, 2010 ...increased oil imports due to cut back production in the GOM...?.... No, they were down. Many analysts had pinned their estimates on lower petroleum imports, which did decline but not sufficiently so to make a dent. Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted July 13, 2010 Author Share Posted July 13, 2010 Must be good news. DOW opens 100 up. Quote Link to comment Share on other sites More sharing options...
interestrateripoff Posted July 13, 2010 Share Posted July 13, 2010 More unexpected news... Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted July 13, 2010 Author Share Posted July 13, 2010 More unexpected news... It wasn't unexpected, just "larger-than-expected". Quote Link to comment Share on other sites More sharing options...
Deckard Posted July 13, 2010 Share Posted July 13, 2010 It wasn't unexpected, just "larger-than-expected". +1 unexpected is soooo June 2010 Quote Link to comment Share on other sites More sharing options...
AvidFan Posted July 13, 2010 Share Posted July 13, 2010 US running a persistent trade deficit and the UK ran a surplus in Q4 '09: http://www.housepricecrash.co.uk/forum/index.php?showtopic=146999 Looks increasingly like the pound is undervalued. Trade weighted, it's 13% under fair value. These figures could mean it's going to rise 20%... Quote Link to comment Share on other sites More sharing options...
AvidFan Posted July 13, 2010 Share Posted July 13, 2010 Also suggests that if the oil price rises further and stays high, the US has had it. They'd have to devalue... Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted July 13, 2010 Author Share Posted July 13, 2010 US running a persistent trade deficit and the UK ran a surplus in Q4 '09: http://www.housepricecrash.co.uk/forum/index.php?showtopic=146999 Looks increasingly like the pound is undervalued. Trade weighted, it's 13% under fair value. These figures could mean it's going to rise 20%... How much should it fall against the euro? Quote Link to comment Share on other sites More sharing options...
AvidFan Posted July 13, 2010 Share Posted July 13, 2010 (edited) How much should it fall against the euro? The pound should rise against the Euro. 1.25 first - then 1.40-1.50. If you mean the dollar-euro, it should fall first, then rise to parity. Edited July 13, 2010 by AvidFan Quote Link to comment Share on other sites More sharing options...
Oliver Sutton Posted July 13, 2010 Author Share Posted July 13, 2010 The pound should rise against the Euro. 1.25 first - then 1.40-1.50. If you mean the dollar-euro, it should fall first, then rise to parity. So it's nothing to do with the trade deficit, it's just what side the pound is on. Fly that flag !!! Quote Link to comment Share on other sites More sharing options...
Realistbear Posted July 13, 2010 Share Posted July 13, 2010 Market Watch Due to the great consumer spending recovery and buying more Chinese tat: WASHINGTON ( AP ) -- The U.S. trade deficit widened in May to the highest level in 18 months as a rebounding economy pushed up demand for imports of foreign-made cars, computers and clothing. The trade deficit increased 4.8 percent to $42.3 billion, the largest imbalance since November 2008, the Commerce Department reported Tuesday. American exports of goods and services rose 2.4 percent but this increase was outpaced by a 2.9 percent rise in imports. Quote Link to comment Share on other sites More sharing options...
Ruffneck Posted July 13, 2010 Share Posted July 13, 2010 printy printy cover that deficit lads Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You can post now and register later. If you have an account, sign in now to post with your account.