FX update: big dollar weakness pushes up Antipodean currencies
The division between the US economy and the rest of the developed world is widening. The global growth gap sees the US expanding at a rate of 6.0% per year. In comparison- global growth has declined in the first part of the year continuing the downtrend which started last year. The world’s biggest economies are now well behind the US and India.
The US Govt is close to approving “longer” range missiles packed with cluster bombs for Ukraine.
North Korea’s Kim Jong Un will visit Russia over the coming days.
Chinese August inflation 0.1% y/y vs expected 0.2%
Canadian Unemployment dipped to 5.5% from 5.6% for August with the job’s number surprising markets coming in at 39,000 vs 19,000 expected highlighting a rebound from transitory times.
The US Dollar (USD) has easily been the strongest currency this month with the British Pound (GBP) the worst performing currency