USA: CRUDE OIL INVENTORIES RISE
Crude oil inventories in the US rose slightly faster than expected last week. They increased by 2.4 million barrels to 425.9 million barrels, as the US Department of Energy announced on Wednesday in Washington. Analysts had expected an average increase of 2.2 million barrels.
US PRESIDENT TRUMP WANTS TO DECIDE ON PUNITIVE TARIFFS
The United States spends a significantly higher proportion of its gross domestic product on defense than Germany. That was “not fair”. Trade and the military went “to some extent hand in hand”. Thus Trump made a direct connection between trade issues and defense policy.The remarks of the US President indicate that he does not plan any exceptions for Germany in the planned punitive tariffs on aluminum and steel. On the other hand, he proposed a derogation for Canada, Mexico and Australia.
In the New York trade, the euro fell to $ 1.2307, which cost a little less than in late European afternoon business. The European Central Bank (ECB) had set the reference rate at 1.2421 (Wednesday: 1.2417); the dollar cost 0,8051 (0,8054) euros. In their statement after today’s interest rate decision, the monetary authorities waived the wording that the ECB could expand its billion-dollar bond purchases, should the framework conditions deteriorate. Economists see this as a signal to prepare the financial markets for an end to the flood of money. At the subsequent press conference, however, ECB President Mario Draghi assured that monetary policy will remain loose.
GERMAN INDUSTRY WITH THE LARGEST DROP IN ORDERS FOR ONE YEAR
German industry has started the year with an unexpectedly strong decline in
China’s exports have surprisingly risen as sharply as they have in three
CHINA’S EXPORTS HAVE RISEN SURPRISINGLY STRONG
TRUMP’S BUSINESS ADVISOR GIVES UP
Gary Cohn, US President Trump’s main economic adviser, resigned. The reason is