The United States’ trade deficit rose in October due to a decline in exports, a stronger dollar and an increase in domestic demand have limited the amount of exports. Exports slummed almost 2% while imports increased 1.3%. The trade gap soured 17.8% from the previous month.
Japan is currently undergoing one of the most significant central bank policy reconstructions in recent times. The Bank of Japan are ambitiously striving for 2% inflation while broadly expanding their balance sheet in an attempt to tackle long-term deflation.
OPEC members have jolted the oil market this week after an agreement to cut production by 1.2 million barrels per day. Crude was hovering around $51 yesterday, jumping around 8%.
Italy has a habit of leaving powerful marks on Western Society. The country is again about to influence the fundamentals of European life. In a post Trump-electorate and ‘’Brexit’’ world, Europe holds its breath as Italy becomes the latest nation in line to make history. The premise is all too familiar as voters face into a life altering referendum.
In a bid to curtail inflation and black market activates, India have decided to abruptly discontinue their largest bank notes. By invalidating 500 and 1000 rupee bills the Indian Government hopes to reduce the amount of money circulating and to decrease inflation.
Emerging markets shares and currencies plummeted on Friday. The sell-off comes after the surprise election of Donald trump.