As if to prove I’m the world’s biggest nerd, I try to read things like the Daily Report by Forex Capital Markets LLC every day.
Memo to self: Go to MTV web site later today to get up to speed on all that is groovy and keen.
I’m still digesting this rather technical economic/financial news, but my first impression is that we’ll never hear about it—other than here—which may be a good thing depending on how cool you think you are. Other than that, more good economic news for the United States.
To our surprise, the market completely ignored Canada’s admission to underreporting US imports in the month of November. If you recall, the US trade deficit widened to a new record in November. Such an error by Canada would mean that deficit was much narrower than expected. In fact the US Commerce Department said that the Canadian error could add as much as 0.5% to US Q4 GDP, which could boost Friday’s release to 3.6%. Taking this and the sharp rise in foreign inflow as reported by the TIC data during the month of November in account, we are left with a potentially very positive dollar development.
Meanwhile, the other economic data released today was equally positive. Personal income climbed a whopping 3.7% in the month of December, which was the fastest pace of growth on record; the government began keeping records in 1959. […]
(my bolding)
PTBC was founded by Mr. Johannesen in 2000.
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