The U.S. trade deficit narrowed for the first time in three months in September as exports jumped and import growth slowed, though overall transactions remained well below pre-pandemic levels.To get more news about WikiFX, you can visit wikifx.com official website.
Todays Must Reads
Leave in the lurch | The U.K. lockdown will add to pressure on logistics firms and supply chains already strained by an economic slump and preparations for Brexit on Jan. 1. Britain is also struggling to stock up on supplies of a coronavirus vaccine, a top government official has said.
Soothing nerves | Chinese President Xi Jinping tried to re-assure international businesses that the nation is committed to open trade, amid concerns that the new “dual circulation” strategy will mean the worlds second-largest economy is set to become more insular.
Tensions flaring | Protesters in the disputed region of Western Sahara blocked Moroccos main trade route to West Africa, prompting a warning that a conflict suspended for three decades could reignite.
Low on chips | Apple is grappling with a shortage of vital chips that manage power consumption in iPhones and other devices, complicating its ability to meet holiday demand for the latest version of its marquee gadget.
Fits and starts | German factory orders extended their recovery in September, albeit at a slower pace. Meanwhile, car sales fell in Europes four largest auto markets in October, signaling demand has relapsed in the midst of another wave of the coronavirus cases hitting the region.
Stop in tracks | The U.S. Department of Commerce is imposing a preliminary anti-subsidy tariff on car and truck tires from Vietnam, citing the Southeast Asian nations “undervalued currency” among the reasons for the decision.
On the Bloomberg Terminal
Double dip | High-frequency data show that economic activity in advanced economies weakened over the course of October amid renewed outbreaks, signaling what may be the start of another downturn, according to Bloomberg Economics.
Slower growth | The U.S.s ISM services index has been in expansionary territory for 127 of 129 months, but all major components except for supplier-delivery delays showed weaker growth in October, an indication of supply-chain tightness.